07/02/2025 | 4:04 pm
The Saint Lucia Development Bank (SLDB) has reached a historic milestone, becoming the first institution from Saint Lucia, and one of only eight globally, to be accredited as a Direct Access Entity (DAE) by the Green Climate Fund (GCF) at its 42nd Board Meeting held in Papua New Guinea.
This landmark achievement places SLDB at the forefront of climate finance in the region, granting it direct access to GCF resources to support Saint Lucia’s transition to a climate-resilient and low-carbon future. It also affirms SLDB’s adherence to rigorous international standards in financial management, environmental sustainability, and social safeguards.
The GCF accreditation positions SLDB to scale up initiatives like the Resilient Green Affordable Housing Project earmarked for Balata, and to expand support for vulnerable sectors such as fisheries, water security, and renewable energy. These efforts are critical to building resilience in communities most affected by climate change.
“This is a truly transformative moment for Saint Lucia and for the Saint Lucia Development Bank,” said Cornelius Sidonie, Managing Director of SLDB. “It is more than an institutional achievement, it is a national victory. GCF accreditation is a testament to our commitment to sound governance, robust financial systems, and our unwavering dedication to building a more climate-resilient and sustainable Saint Lucia.”
It is well known that Saint Lucia faces heightened vulnerability to the impacts of climate change, including rising sea levels, extreme weather events, and disruptions to key sectors such as agriculture, fisheries, energy, and water. With GCF accreditation, SLDB is now positioned to channel critical investments into projects that address these challenges head-on, including:
- Renewable Energy Projects – Supporting the shift to clean, sustainable energy sources.
- Climate-Resilient Infrastructure – Building infrastructure that can withstand climate impacts.
- Sustainable Agriculture and Fisheries – Enhancing food security and protecting livelihoods.
- Community-Based Adaptation – Empowering local communities to implement their own climate solutions.
SLDB is committed to working in close partnership with the Government of Saint Lucia, local communities, and development partners to identify and implement high-impact climate projects that align with national priorities and global climate goals…