IDB Invest (the private sector arm of the Inter-American Development Bank) put Jamaica on the map of green investors in an attempt to push the island to new heights.
James Scriven, CEO of IDB Invest, sang Jamaica’s praises in a speech held during Jampro’s 2022 Invest Jamaica event. Scriven regarded the country as a hub of green investment, worhty of attention due to its untapped potential and the locals’ entrepreneurial drive.
“Jamaica is a large shareholder for the IDB Group and is a hub for IDB Invest. We feel at home over here,” Scriven stated during his speech. “There are impact investors looking for those billion dollar investments. And here’s Jamaica, with its physical infrastructure and its fiscal discipline, raising its hand, saying ‘I’m the place to invest’”.
The IDB Invest oficial made special mention of climate-friendly investments as the future of not only the island, but of Latin American and the Caribbean as a block. He underscored the urgency faced by the region as it stares down the consequences of climate change. Out of the 20 countries most exposed to the dangers of climate change, 9 are located in the LATAM/Caribbean , he pointed out.
Climate-friendly investment is playing a hand in the attempt to ease those adverse effects. Nevertheless, there’s a lot of work to be done on adaptation of physical infrastructure, added the IDB Invest CEO. The region requires a yearly U$S18 billion investment to adapt infrastructure in order to prevent a climated-related crisis.
You can watch Scriven’s whole pressentation below.