Caribbean energy initiative to get under way

Barbados and its regional neighbours will benefit from a five-year Caribbean energy initiative announced by the United States Agency for International Development (USAID).

USAID Administrator, Mark Green, said the initiative is part of major investments that the organisation is making within the Caribbean. He explained the energy initiative is “aimed at lowering electricity prices with which we have seeded an initial $5 million as well as a $25 million regional loan guarantee to spur lending to households, small and medium enterprises for renewable energy, power generation and overall job creation”.

He was speaking to the media at the conclusion of an event to mark the years of partnership between the Caribbean Disaster Emergency Management Agency (CDEMA) and USAID on Monday at CDEMA’s headquarters. During these proceedings, Green announced CDEMA will receive $10 million from USAID to strengthen disaster preparedness and response across the Caribbean.

He said he was pleased to make that announcement while noting, “With this new funding, USAID will partner with community level organisations, host country government partners and regional groups as well as the private sector to strengthen local, national and regional plans, and approaches to mitigate and build resilience to natural disasters. The new activities will minimise the damage of disasters. I hope it will reduce the loss of life and I know it will enhance response efforts in the Caribbean.”

Green also shared that while in Barbados, he met with Minister of Foreign Affairs and Foreign Trade, Senator Dr. Jerome Walcott, and they discussed areas of mutual concern to Barbados and the United States of America. He also met with youth beneficiaries of USAID’s Regional Youth Crime Prevention projects and visited the ongoing resilience efforts such as the resilience project in Holetown, St. James.

He stated, “The current state of the US-Caribbean relationship as well as the US-Barbados relationship is strong with even stronger, brighter days ahead.” (MG)