ECLAC has made a call for the creation of a Caribbean Resilience Fund as part of a debt alleviation strategy based on a climate change swap proposal. “The swap will involve the use of pledged climate funds to write down the public debt of Caribbean countries and create the financing necessary to fund climate change adaptation and mitigation initiatives and investment in green economies, which in turn will be administered through a Caribbean Resilience Fund”. This proposal stems from the recognition that while Caribbean countries are among the most highly indebted countries in the world. The subregion’s high debt dilemma was linked to external shocks, compounded by the inherent structural weaknesses and vulnerabilities confronting Caribbean SIDS with limited capacity to respond. Many Caribbean countries belong to the middle income category, which constraints their access to concessionary funding.