Latin America and the Caribbean

MCO Barbados

SDG Finance - Component 1

Harnessing Blue Economy Finance for SIDS Recovery and Sustainable Development

Sustainable Development Goals
Total funding allocated
SDG Finance - Component 1
US $ 1000000
Co-funding by UN agencies
SDG Finance - Component 1
US $ 120000
#BlueFinance
#ResilientEconomicRecovery
#ExogenousShocks
#NaturalHeritage

Brief Description

The Blue Economy Strategies are amongst the most promising approaches to support Small Island Developing States (SIDS) economic structuring transformation to build resiliency to exogenous shocks, including natural disasters, manmade or financial crises, global viral pandemics, while preserving their natural heritage. The Joint Programme (JP) will support three governments in the Eastern Caribbean: Barbados, Grenada and Saint Vincent and the Grenadines, in their efforts to develop financing strategies in the Blue Economy and creating an enabling framework for Sustainable Development Goal (SDG) investment.

Approach

Using the Blue Economy as an integral driver for resilient economic recovery and growth in the Eastern Caribbean, the Joint Programme’s emphasis will be on the development of an enabling and supporting environment for financing the Blue Economy, through different measures: the identification of policy and regulation gaps, a methodology to identify key Blue Economy opportunities, and the definition of specific financing mechanisms to achieve resilient growth. The three countries will benefit from upscaling the UN’s existing initiatives with the private sector, through the establishment of a public-private consortium which will leverage substantial resources from the private sector.

Quick facts

Total budget:
US $1,120,000

UN Agencies:

UNDP, FAO, UNEP


National Partners:

Ministry of Finance, Economic Affairs and Investment


Duration:
Jul 2020 - Jun 2022

Financial Information
Social Protection

Universal Adaptive Social Protection to Enhance Resilience and Acceleration of the Sustainable Development Goals in the Eastern Caribbean

Sustainable Development Goals

Brief programme description

Five UN Agencies in the Eastern Caribbean are collaborating to support the governments of Barbados and Saint Lucia, as well as the OECS Commission, to reduce poverty and inequality and strengthen people’s resilience through predictable access to universal adaptive social protection. Partnering UN Organizations include: ILO, UNDP, UNICEF, UN Women and WFP.

 

Approach

The Joint Programme will support the development of an adaptive model of universal social protection and ensure that people’s resilience to the impacts of climate change is enhanced. This will be achieved through a combination of community, national and sub-regional efforts supporting changes to social protection policy/legislation and programme design and delivery. 

Social protection coverage and efficiency, through strengthened systems for evidence-based policy and programming, including data analysis and systems to inform targeting and planning, will be improved. Additionally, concrete, shock-responsive social protection mechanisms will be developed and piloted at the community level, informed by analysis of livelihoods, seasonality and risk.

The intention is to replicate this model across the Eastern Caribbean in partnership with the OECS and, more specifically, through the development of an adaptive/ shock-responsive Social Protection Strategy and Implementation Framework.   

 

Target groups

Particular attention is being paid to the needs of women, children, and older persons. Indirectly, the programme also benefits youth, persons with disabilities and migrants who, in the event of shocks, could be further left behind.

 


Downloads:

Quick facts

Total budget:
US $ 4,804,402

UN Agencies:

ILO, UNDP, UNICEF, UN Women and WFP


National Partners:
  • BarbadosMinistry of People Empowerment and Elder Affairs
  • Saint Lucia: Ministry of Equity, Social Justice, Local Government and Empowerment
  • OECS Commission

 


Duration:
January 15, 2020 to January 14, 2022 (24 months)

Financial Information