Climate aid given to Caribbean micro-enterprises

The Inter-American Development Bank will invest $1.5 million to help coastal communities and microenterprises in the Caribbean. The project will extend aid to communities and small businesses as they draft climate change response plans.

One aim of the fund is to assist in the creation of alternative business models that will improve the people’s livelihood.

The fund hopes to benefit 1,200 small- and medium-sized enterprises in Jamaica, Barbados, Bahamas and Belize.

“The project will provide locally relevant knowledge that could promote more effective decision-making, planning and management in coastal areas susceptible to climate change hazards. It will also develop business plans for microentrepreneurs that take into account changing climate conditions,” project leader Gregory Watson said.

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