Financing Water Adaptation In Jamaica’s New Urban Housing Sector
JN Water Adaptation Project Support Pillars.
Facilitate uptake of water adaptation measures in the housing sector across Jamaica, including the use of rainwater harvesting systems and water EFFICIENT fixtures.
Increase climate RESILIENT housing in Jamaica, through greater awareness of the business and financial cases for developing and building homes with water efficient measures.
The project exemplifies the IDB’s attempt to provide innovative financing that will help to make Jamaica more adaptable to climate change and certainly improve our capacity in terms of drought resilience.
The importance of water has long been disregarded, with some people treating it as “an unending stream”. So, part of the objective of this project is to bring a greater level of awareness to what is not an unending supply, but actually a scarce resource that we need to respect and use carefully.
The impact of climate change is becoming more and more evident and soon we are going to start to feel those effects in Jamaica . So, anything we can do to mitigate the impact is really important.
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JN Water Project FAQs
The Water Project is a four year collaboration between The Jamaica National Group, Inter-American Development Bank (IDB), Multilateral Investment Fund (MIF) and Climate Investment Fund (CIF). The project aims “To enhance Jamaica’s climate resilience through the use of water- adaptation technology in the country’s housing sector” and will provide funding to housing developers and homeowners to encourage the use of water adaptation technologies in the sector.
The effects of climate change on water supply is real. With continued use and mismanagement, there will be an increased strain on Jamaica’s water supply. The Jamaica National Foundation through its Water Project is therefore committed to helping householders and developers across Jamaica to improve water use efficiency in several ways with appropriate water technologies and conservation practices.
JN serves as administrators of the project’s two main components. JN Bank will manage the loan of funds to implement water adaptation technologies in the housing sector and JN Foundation leads the technical component to drive awareness around the benefits of water adaptation and the proposed technologies for the housing sector in Jamaica.
The primary beneficiaries are Householders and developers. Yet several other persons will benefit such as: small local businesses, National Water Commission and Entrepreneurs. See the full list of beneficiaries
Qualifications for the financing aspect of the project will be available once the product is launched.