. There are growing concerns among policy- and decision-makers in small islands about the current levels and forms of adaptation finance, and about countries' experience with accessing it . In the Caribbean, 38% of flows were concessional loans and 62% were grants ; the situation in the Atlantic and Indian oceans is starkly different-nearly 75% of the flows were in the form of concessional loans and grants accounted for the remaining 25% . This raises questions about fairness and justice for small islands having to finance adaptation to climate impacts to which they have made a negligible contribution. In the Pacific, 86% of aid was delivered as project-based support , which can undermine the long-term sustainability of adaptation interventions . Direct budget support was rare , signalling the importance of works such as Rambarran  that support cross-regional lesson- learning by, for example, showcasing the experience of Seychelles with successfully devising innovative financing mechanisms for supporting adaptation and conservation goals, and reducing its public debt. Regional catastrophe risk insurance schemes, however, such as Pacific Catastrophe Risk Insurance Company under the World Bank's Pacific Catastrophe Risk Assessment and Financing Initiative  Program are trying to enable a regional effort in increasing accessibility to insurance  as does the Caribbean Catastrophe Risk Insurance Facility, although these funds are still rather small compared to the needs across the countries .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report