Minister without Portfolio in the Ministry of Economic Growth and Job Creation (MEGJC), Hon. Matthew Samuda at the Climate Investment Funds (CIF) Latin America and the Caribbean (LAC) Knowledge Exchange on June 23, 2025.
Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Matthew Samuda, emphasized the urgency of collective climate action, especially for Small Island Developing States (SIDS) and vulnerable nations across the Latin America and Caribbean (LAC) region.
Minister Samuda was speaking at the Climate Investment Funds (CIF) LAC Knowledge Exchange being hosted by the Government of Jamaica, CIF, Inter-American Development Bank (IDB), and the World Bank Group at UWI Regional Headquarters. This four-day gathering of regional leaders, development partners, and technical experts is focused on accelerating climate resilience and sustainable development.
“For Jamaica and our Neighbours, climate change is not a distant threat—it is a lived reality,” the Minister noted. “From more frequent hurricanes and prolonged droughts to coastal degradation and agricultural disruption, our development gains are at risk.”
Recent data underscores the gravity of the challenge. The IDB estimates that climate change could cost the region up to 1.5% of its GDP annually by 2050, while climate-related events have already caused over USD 150 billion in damages between 2000 and 2022. Addressing these threats will require an estimated USD 1.3 trillion in investment by 2030, according to the European Investment Bank.
Minister Samuda called for continued support of the UNFCCC framework and robust financing for key mechanisms such as the CIF, the Green Climate Fund, and the Loss and Damage Fund, stressing the need for equity, accessibility, and locally led solutions.
Highlighting Jamaica’s experience as a participant in the CIF’s Pilot Program for Climate Resilience (PPCR), he pointed to successful initiatives involving climate-smart agriculture, resilient infrastructure, and enhanced early warning systems as examples of what meaningful partnership can achieve.
“This Knowledge Exchange gives us the space to reflect, collaborate, and scale up investments under new CIF programs like Nature, People and Climate (NPC) and ARISE, guided by equity, science, and shared learning,” the Minister said.
The event is expected to deepen South-South cooperation, strengthen regional alliances, and amplify the voices of climate-vulnerable communities across the Caribbean and Latin America.
Over the four days, the group will also visit projects that benefited from CIF funding in Jamaica, including a solar-powered agricultural production hub that demonstrates how concessional finance can drive tangible progress in national planning, infrastructure, and livelihoods.
Minister Samuda thanks CIF, IDB, and the World Bank Group for hosting this four-day Knowledge Exchange and bringing together approximately 150 participants from CIF recipient country governments, the private sector, civil society, indigenous peoples, local community groups, as well as CIF MDB partners from the IDB, IFC, and World Bank.