The Caricom Development Fund (CDF) and the Commonwealth Secretariat today signed a Memorandum of Understanding (MoU) in Georgetown, Guyana, to enhance cooperation between the two bodies.
The MoU signals the commitment of the two sides to work together to build capacity in the area of climate change mitigation and adaption within Caricom member states.
It will also seek to enhance energy efficiency and renewable energy capacity, especially to facilitate access to concessional financing and develop appropriate financial instruments that support the infrastructure.
It was signed as the Commonwealth Secretary-General, Patricia Scotland completes her tour of the Caricom region.
Signing on behalf of the CDF was Chief Executive Officer, Rodinald Soomer who noted that the initiative will contribute to “a more sustainable, inclusive and cohesive growth and development across the community.”
The intention of the MoU he said, is to further a collaboration which began in 2013 through the provision of expertise in monitoring and evaluation, to build capacity and establish systems both in the CDF and member states in support of a more efficient and effective implementation of CDF’s Country Assistance Programmes.
The program will run for five years.
The CDF is currently in the second half of its 2015-2020 funding cycle. As such, the collaboration will serve to strengthen the design and implementation of ongoing and new country programmes.
