WASHINGTON (Sputnik) — The United States plans to aid the sun and wind rich Caribbean nations invest in renewable energy such as solar and wind farms to fuel economic growth and development through loans, technology collaboration, and working groups between CARICOM nations and US agencies, according ot the statement.
The United States will establish a $20 million fund to encourage investment in renewable energy and is already in advanced stages to finance solar farms in Jamaica, the White House said. United States-Caribbean collaboration also includes initiatives to increase energy efficiency and storage.
“The leaders’ discussion focused on the importance of improving energy security, reducing energy costs, and fighting climate change,” the White House statement read.
Obama’s meeting with Caribbean leaders comes after the United States launched the Caribbean Energy Security Initiative in January.
The President is visiting Jamaica ahead of the Summit of Americas in Panama between April 10 and 11.
