Caribbean Challenge Initiative
Sustainable Finance Architecture
A new sustainable finance architecture is being established to support CCI composed of a set of trust funds.
Caribbean Biodiversity Fund (CBF)
The CBF was legally established as a UK-based charity in 2012. It promotes for the benefit of the public, the conservation, protection, management and expansion of national protected area systems and other areas of environmental significance of participating geographies.
US $42M of initial financial commitments has been made to capitalize the CBF endowment. Donors to date include the Government of Germany (BMZ/KfW) (US $26M), the Global Environment Facility (GEF) through the World Bank and the United Nations Development Programme (UNDP) (US $7.95M), and The Nature Conservancy (US $8M).
National Conservation Trust Funds (NCTFs)
The CBF will channel funding each year to the NCTFs established in the participating countries. The amount of annual CBF funding available for disbursement to the participating NCTFs will be approximately 4.5% percent of the monthly value of the portion of the CBF endowment earmarked for each trust fund (averaged over the previous three (3) years). This formula is designed to help smooth out the fluctuation of investment returns. The transfer of funds will be governed by the terms and conditions set out in Vertical Agreements between the CBF and individual NCTFs.
CBF and the Caribbean Challenge Initiative
CCI Governments can benefit from the CBF, and its associated NCTFs.
- Antigua and Barbuda (Non CCI)
- The Bahamas
- Dominican Republic
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
Contact Information for the CBF Secretariat
- CEO: Mr. Yabanex Batista
- phone: +1 916 346 6260
For more information on the CBF, refer to the CBF Fact Page.