Project Name: Boosting the resilience of infrastructure assets and planned large-scale infrastructure investments in 4 Caribbean SIDS through risk-informed infrastructure asset management policies and practices
The project seeks to enhance the resilience, sustainability, and inclusiveness of infrastructure in selected Small Island Developing States (SIDS) by integrating climate risk considerations into infrastructure asset management practices.
Key activities include evaluating current infrastructure asset management practices and formulating targeted action plans for priority assets, ensuring climate resilience is embedded in planning and decision-making processes.
The project will empower national and local governments to implement climate-risk-informed infrastructure asset management policies that align with broader development goals
Lead Agency: Ministry of Works and Family Island Affairs, Bahamas
National Emergency Management Organisation, Belize
Ministry of Economic Growth & Job Creation, Jamaica
Ministry of Transport, Works, Land and Surveys and Physical Planning, St Vincent and the Grenadines
Impact
1
Climate-resilient Infrastructure Asset Management (IAM) will enhance government capacity to sustainably manage infrastructure, leading to improved public service delivery across health, education, water, transport, and energy sectors, and support the achievement of multiple SDG targets.
2
Strengthening IAM practices will reduce infrastructure-related costs, creating fiscal space and mobilizing domestic resources. Proper maintenance can avert up to a 2% annual GDP loss, with every $1 spent on maintenance proving as effective as $1.5 in new investment.
3
By ensuring that infrastructure systems are inclusive, resilient, and well-managed, effective IAM will foster trust, promote social stability, and attract private investment. This will reduce perceived risks and enhance fiscal sustainability.
