The Inter-American Development Bank (IDB), CAF - Development Bank of Latin America and the Caribbean, and the Caribbean Development Bank (CDB) has been launched at COP30 the Caribbean Multi-Guarantor Debt-for-Resilience Joint Initiative.

This is considered a landmark regional effort designed to boost disaster preparedness while easing debt pressures across the Caribbean.

By leveraging guarantees from Multilateral Development Banks (MDBs) and private sector actors, the initiative will create fiscal space for countries to invest in priority resilience measures and regional public goods — enabling action before disasters strike and without adding new debt.

The Joint Initiative will focus on three goals:

• Scale up debt-for-resilience swaps to generate fiscal space for enhanced resilience.
• Strengthen coordination among MDBs, governments, and private sector partners to scale and streamline interventions — particularly debt-for-resilience swaps in the region.
• Improve transparency, monitoring, and evaluation standards to attract more investment.