RTI International (RTI) and the Ocean Risk and Resilience Action Alliance (ORRAA) have been contracted by the Caribbean Development Bank (CDB) to develop a Green Climate Fund funding proposal for Blue Co. Blue Co that aims to catalyse significant, long-term finance for a low-emission, climate-resilient regional blue economy in Caribbean Small Island Developing States (SIDS). 

As part of the GCF proposal, RTI and ORRAA are developing a consolidated package of project concepts which, subject to GCF funding and further due diligence, could be directly financed through Blue Co. These projects aim to increase the climate resilience and low emission development of the Caribbean regenerative and sustainable blue economy, with a focus on providing proof of concept for innovative financing and insurance mechanisms that can be scaled across the region.  

The Department of Economic Development, Saint Lucia's National Designated Authority (NDA) to the Green Climate Fund (GCF), inviteS interested government, civil society, multilateral, and private sector stakeholders to submit project concepts for consideration. The deadline is Oct. 31, 2024.

Please note that this is not a direct funding opportunity. The goal is to establish a strong project pipeline for inclusion in the GCF Blue Co proposal. All eligible submissions will be evaluated by an expert panel using key criteria such as: impact, innovation, equity, scale and systematic change, team composition and stakeholder engagement, risks, and additionality. More detailed guidance about the evaluation criteria will be shared in due course. 

RTI and ORRAA are also hosting a public webinar from 10:00-11:00 am (EST) on Friday, 20 September 2024 to provide an overview of Blue Co and to answer any questions from prospective applicants. You can sign-up for the webinar here.