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BRIDGETOWN, BARBADOS, August 18, 2025 – The Caribbean Development Bank (CDB) has launched a critical round of stakeholder consultations with representatives from 14 CARICOM member states and key regional institutions to drive the establishment of the Regional Platform for Catalysing Climate Action in the Caribbean (RP-Caribbean).

The consultations, now underway, are part of the preparatory phase of CDB’s proposal to the Green Climate Fund (GCF), expected to be submitted by the end of September 2025. The initiative, hailed as a first-of-its-kind mechanism, aims to unlock climate financing and dismantle systemic barriers slowing regional climate action.

A Vision Rooted in Regional Unity

The bold plan for RP-Caribbean was first unveiled by Barbados Prime Minister Mia Amor Mottley at the 2025 GCF Regional Dialogue in St. Kitts and Nevis. The platform, supported by the GCF Readiness Programme and contributions from CARICOM states, will operate through an integrated programmatic approach that addresses regional priorities across energy, transport, and finance.

Among its key focus areas are:

• Advancing the sustainable energy transition, including intra-island grid connectivity and geothermal energy development.
• Building resilient transport infrastructure to enhance regional connectivity.
• Creating innovative financial instruments, such as debt-for-climate swaps and specialised funds, to ease fiscal pressures.
• Strengthening youth capacity building, empowering young Caribbean citizens to lead in climate solutions.

Breaking Barriers, Unlocking Opportunities

“Collaboration is at the heart of RP-Caribbean’s success,” declared CDB President Daniel Best. “By engaging all Member States and institutions, we are crafting a unified strategy to mobilise resources and deliver transformational climate action. This is climate finance innovation at its best—not just for the Caribbean, but as a model for global resilience.”

Division Chief of CDB’s Environmental Sustainability Unit, Valerie Isaac, stressed the importance of the consultations, noting that RP-Caribbean is “designed to remove barriers and unlock investment for priority areas, from energy to transport and finance.”

Next Steps

Over the coming weeks, CDB will complete consultations to ensure the proposal reflects both local realities and regional ambitions. Approval from the GCF is anticipated by year’s end, paving the way for operationalisation in 2026.

Collaborations will extend to the Organisation of Eastern Caribbean States (OECS) Commission, the Eastern Caribbean Central Bank (ECCB), the World Bank, and other partners to ensure synergy with ongoing initiatives.

RP-Caribbean is being hailed as a transformative leap in regional climate governance, offering a coordinated, innovative approach to tackling the existential climate challenges facing small island developing states.

Photo Caption:

Left to right: Mr. Daniel Best, President, Caribbean Development Bank; Honourable Dr. Terrance M. Drew, Prime Minister of St. Kitts and Nevis; the Honourable Mia Amor Mottley, Prime Minister of Barbados; Ms. Mafalda Duarte, Executive Director, Green Climate Fund.

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