During a trip to Guyana to attend the Caribbean Investment Forum, Deputy Administrator Isobel Coleman highlighted nearly $28 million in funding, including $1.45 million in new funding from USAID, to support inclusive economic growth and climate adaptation in the Caribbean. At the Forum, the Deputy Administrator reaffirmed USAID's commitment to partnering with Guyana and the Caribbean Community to convene the private sector and catalyze sustainable investment in the Caribbean region.
USAID's Economic Development Accelerator supports Guyana's agro-processing small and medium-sized enterprises (SMEs) to grow their businesses and reach new markets. The Accelerator provides marketing and finance training, access to seed funding, and investment readiness support. USAID's $1.45 million in new funding will expand this successful model to SMEs in Suriname and Trinidad and Tobago.
As part of USAID's $20 million Caribbean Climate Investment Program announced by Vice President Kamala Harris in June 2023, Deputy Administrator Coleman highlighted a new project to help with Barbados' energy grid stabilization efforts by introducing 16 battery energy storage systems at existing distributed energy generation projects in Barbados. The Caribbean Climate Investment Program helps mobilize private finance to support companies deploying technologies in renewable energy, energy efficiency, and climate adaptation.
In addition to the previous $5.3 million announced by Secretary Blinken in July 2023, Deputy Administrator Coleman highlighted $1 million to support the use of data in agricultural decision making. It will provide analysis of historical climate and weather trends and their impact on agriculture, and strengthen information systems to minimize negative impacts from changes in weather patterns.
The United States will continue to partner with the people of the Caribbean to attract and retain sustained business growth and facilitate climate adaptation and resilience in the region. USAID's climate work in the Caribbean is part of the President's Emergency Plan for Adaptation and Resilience (PREPARE) and supports Biden-Harris Administration priorities, working to advance the goals of the U.S.-Caribbean Partnership to Address the Climate Crisis 2030, or PACC 2030, of which USAID is a key partner.
