IDB expands Barbados climate resilience model to other Caribbean countries

The Inter-American Development Bank (IDB) is launching the Ready and Resilient Americas program, which provides for more than $10 million in grant financing for disaster preparedness and climate change adaptation.

Juan Pablo Bonilla, an IDB representative, said this at an event held as part of WUF13 in Baku, Report informs.

According to him, the initiative focuses on three key areas: risk information systems, coordination between countries and subregional networks, and the introduction of innovative financial mechanisms for resilience investments and risk sharing.

Bonilla noted that the program is aimed at strengthening regional coordination and improving countries" preparedness to respond to the consequences of natural disasters and climate change.

He also said Caribbean countries are being considered as a potential platform for introducing new resilience approaches, including the use of open risk data, coordination mechanisms and innovative financing.

As an example, the IDB representative cited Barbados, where a program to strengthen climate and financial resilience was approved in 2024.

Bonilla said the IDB is currently extending this model to other Caribbean countries.

In addition, the bank has already placed $1.1 billion in contingent financing in Caribbean countries to reduce response times and minimize the impact of natural disasters on the most vulnerable population groups and cities.