The borrowing continues with the general Barbados population non the wiser about the economic strategy – Blogmaster
World Bank Approves US$100 Million for Barbados’ Green and Resilient Recovery
Published: Wednesday, January 11, 2023
World Bank release
Bridgetown, Barbados, January 11, 2023 — The World Bank approved yesterday $100 million in financing to support Barbados’ low carbon economic development and resilience to climate change.
“I cannot underscore enough the necessity of support, such as this, to middle income small island developing states,” said The Honorable Mia Mottley, Prime Minister of Barbados. “This loan allows Barbados to advance its efforts to achieve climate resilience, including continuing our shift to clean energy. This ultimately allows us to better shield Barbadians from the worst excesses of the climate crisis while creating opportunities for green and blue jobs and investment as we adapt to our new reality.”
The Barbados Green and Resilient Development Policy Loan has two main pillars. The first focuses on green and blue resilient development, which includes a new law on water reuse, the adoption of a climate change and agriculture policy and the establishment on an Environment Sustainability Fund, all of which are critical since Barbados is a water-scarce country. This pilar also supports the reduction of marine pollution, and management of natural resources, in the context of climate vulnerability.
See full text – PRESS RELEASE