Grants and Contributions:
Title:
Canadian climate resilience accelerator for Latin America and the Caribbean
Agreement Number:
7457541 P012183001
Agreement Value:
$500,000,000.00
Agreement Date:
Mar 8, 2024 - Mar 31, 2026
Description:
This project aims to use private sector investments in climate change mitigation and adaptation across Latin America and the Caribbean while promoting gender-responsive, sustainable economic development. The project offers lower-cost and longer-term loans for innovative private-sector projects that need concessional financing to be viable.
Project activities include: (1) investing in climate-smart agriculture practices. This includes drought-resistant seed varieties, irrigation infrastructure, and sustainable land use practices that aim to increase productivity, enhance resilience, and reduce greenhouse gas emissions; (2) scaling up low carbon and climate resilient technologies such as energy storage, wastewater management, and charging infrastructure; (3) restoring sand beaches, dunes, mangroves, and coral reefs to increase coastal resilience and protect the most vulnerable communities from the impacts of climate change; and (4) developing carbon markets in Latin America and the Caribbean by advising and financing borrowing member countries, developing carbon credit methodologies, and increasing transparency in market conditions.
Organization:
Global Affairs Canada
Expected Results:
The expected outcomes of this project include: (1) raised up to $4 billion in public and private investments; and (2) reduced and avoided 25 million tonnes of greenhouse gas emissions.
Location:
Washington, US
Reference Number:
064-2024-2025-Q2-00736
Agreement Type:
Other transfer payment
Report Type:
Grants and Contributions
Recipient Type:
Not-for-profit organization or charity
Additional Information:
Belated reporting
Recipient's Operating Name:
IDB - Inter-American Development Bank
Recipient's Legal Name:
IDB - Inter-American Development Bank