The Credit Risk Abatement Facility (CRAF) was conceptualised out of the need to support the development of the renewable energy and energy efficiency sector within the Caribbean region. Established by the CARICOM Development Fund (CDF) with assistance from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and the Caribbean Community (CARICOM) Energy Unit, the CRAF will contribute to the transition to a low carbon economy by supporting projects that lead to a decrease in harmful greenhouse gas emissions and an increase in cost savings thus making our economy more productive and competitive. The development of CRAF is rooted in CDF’s mandate to facilitate business development and promote enterprise competitiveness.
The assessment of project eligibility will be completed by the CRAF. Should a project not align with all eligibility criteria set by CRAF, Financiers will have access to documentation templates to assist in proposing these projects. Projects supported by the CRAF should not only demonstrate potential for commercial and technical viability, but it must also provide positive impact towards both the environment and society.
Projects that are eligible for support by CRAF should make use of the following technologies: