The Inter-American Development Bank (IDB) approves US$100 million for Caribbean energy facility

The Inter-American Development Bank (IDB) has said it will support a proposal by Trinidad and Tobago Prime Minister Kamla Persad-Bissessar to establish a multi-donor energy facility for Caribbean sustainability.

The prime minister made the announcement on Monday night at a political meeting of her United National Congress (UNC) party.

She said the bank has agreed to provide US$100 million to co-finance projects in the energy sector over the next six years.

“This will enable promotion of energy diversification, energy efficiency and a reliable supply of alternative fuels at a reduced cost in the Caribbean. It is very exciting because it will bring stability, security and sustainability to our region,” Persad-Bissessar said.

She added that it would help Trinidad and Tobago and the Caribbean.

“Recently CARICOM declared its unequivocal support for the initiative. So you see with my government, Trinidad and Tobago is leading and energising the region,” she said.

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