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The Caribbean Development Bank has expanded its Green Climate Fund accreditation fivefold, from 50 million United States dollars to US$250 million.
This was revealed by President Daniel Best, who was addressing the opening ceremony of the 55th Annual Meeting of the Board of Governors in Canada.
Meanwhile, during the 25th William Demas Memorial Lecture, Deputy Managing Director of the International Monetary Fund, Dr. Nigel Clarke, urged countries to lift growth prospects, improve living standards, and build resilience against persistent economic shocks and natural disasters.
He warned that, amid continued uncertainty and tighter financial conditions, risks to global financial instability have increased significantly.
