EU, Spain, IDB to help Caribbean develop renewable energy

NEW YORK, Sept 29, CMC – The Inter America Development Bank (IDB) says it is prepared to work with donor organizations and countries to avoid duplication on projects as the Caribbean seeks to reinforce collaboration in the field of renewable energy.

“Our long and close relationship with the Caribbean has allowed us to gain extensive knowledge of the region’s current conditions and future needs and of what it will take to achieve its energy targets,” said IDB President Luis Alberto Moreno following the signing of a joint declaration involving the European Union, Spain and the IDB on energy efficiency in the Caribbean.

The IDB said renewable energy and energy efficiency can help the Caribbean accelerate its development, mitigate the impacts of climate change and achieve greater energy security.

“By renewing its commitment to renewable energy and energy efficiency, the partnership will work to foster conditions for attracting more investments in sustainable energy; identifying, replicating and scaling up best practices, and coordinating policies and activities among Caribbean states,” the IDB said.

It said the renewed collaboration will also explore opportunities such as involving the private sector and civil society in energy-related efforts, and promoting the use of sustainable energy technologies and solutions to limit the negative consequences of energy generation, among other issues.