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UNDP promotes creative and innovative financial solutions in Cuba

Havana, Apr 21 (Prensa Latina) The office of the United Nations Development Program (UNDP) in Cuba on Sunday presented various innovative financial solutions, on the World Day of Creativity and Innovation.

According to the publication on the X profile of UNDP-Cuba, The initiatives are promoted within the framework of cooperation projects and alliances between the organization and national institutions.

The first of these projects is related to sustainable land management and consists of combined insurance for agricultural and livestock production in small farms; the incentive to save water and interest rates and credits for these productive centers, the UNDP noted.

All these projects are carried out in coordination with the ministries of Science, Technology and Environment, Agriculture and others, the UN agency added.

According to the UNDP, the second project consists of payment for the environmental service of carbon removal, for the protection of diversity and mitigation of the effects of climate change.

The third one is the design of microcredit instruments for small actors in the Cuban private sector, tailored to their needs, to strengthen their capacity to generate productive offers with greater added value and innovation and in turn contribute to banking penetration.

The last solution involves the efficient management of government programs, which allocate resources based on expected results and monitoring with evaluable goals and indicators, the UNDP pointed out. Regarding World Creativity and Innovation Day, the United Nations asserted that they are essential to face the world’s challenges, from the climate crisis to gender equality, including poverty and inequalities.