Project Preparation Facility

The Caribbean Development Bank (CDB) is seeking GCF Project Preparation Facility (PPF) funding to design the BlueCo Caribbean Umbrella Coordination Programme. This 24-month preparatory phase involves 11 key activities, including baseline assessments, the creation of a Regional Blue Economy Framework, and the design of a Regional Coordination Mechanism. The programme intends to establish a long-term project pipeline to attract sustainable finance for a climate-resilient blue economy across multiple Caribbean SIDS, starting with an initial set of three to four high-impact projects. The request is supported by no-objection letters from several participating countries, including Barbados, Jamaica, and Trinidad and Tobago.

• The programme will implement an initial set of tentatively three innovative high-impact projects to reduce greenhouse gas emissions and enhance climate resilience, while creating a broader pipeline for future projects to be implemented by various partners.
• The Project Preparation Facility (PPF) request covers 11 specific activities to be completed over 24 months, including baseline assessments, a climate change rationale, a Regional Blue Economy Framework, and a Consolidated Feasibility Study.
• Caribbean SIDS face significant economic vulnerabilities that hinder climate action, including high debt-to-GDP ratios—often exceeding 50% and sometimes 90% or higher—and a heavy reliance on tourism and fisheries.
• Existing financial sources for the Caribbean typically operate at an individual project level, which is insufficient to trigger a regional paradigm shift; furthermore, the classification of SIDS as middle-income countries often prevents them from accessing concessional borrowing.
• The Caribbean Development Bank (CDB) will act as the Accredited Entity, managing the PPF funds and procurement, and will specifically co-finance the design of the BlueCo Project Preparation Fund (Activity 5).

APA

Green Climate Fund (2023). Project Preparation Facility. https://www.greenclimate.fund/sites/default/files/document/ppf075-cdb-multi-country-blue-co-caribbean-umbrella-coordination-programme_0.pdf

Chicago

Green Climate Fund. Project Preparation Facility. 2023. https://www.greenclimate.fund/sites/default/files/document/ppf075-cdb-multi-country-blue-co-caribbean-umbrella-coordination-programme_0.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Project Preparation Facility |date=2 September 2023 |url=https://www.greenclimate.fund/sites/default/files/document/ppf075-cdb-multi-country-blue-co-caribbean-umbrella-coordination-programme_0.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2023project, author = {{Green Climate Fund}}, title = {{Project Preparation Facility}}, institution = {Green Climate Fund}, year = {2023}, month = sep, url = {https://www.greenclimate.fund/sites/default/files/document/ppf075-cdb-multi-country-blue-co-caribbean-umbrella-coordination-programme_0.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }