Barbados is borrowing another $200 million from the Inter-American Development Bank (IDB).
On Wednesday the bank announced its approval of the funding, the second of three policy-based loans it said would benefit all Barbadians. Government has already secured the first of these loans, a $160 million one approved in March last year.
The IDB said the new loan, which is for a 20- year term and a 5.5-year grace period, would “support maintaining a stable macroeconomic environment and deepen the reforms initiated under the first [loan]”.
“The first area of policy reform is the regulatory framework for spatial planning, managing the impacts of development activity, and water resource management,” the multilateral institution said. “Among other initiatives this covers development of regulations and plans for the Planning and Development (Amendment) Act of 2020, and progress in regulating Rainwater Harvesting, Water Reuse, and Ground Water Zoning and Protection.” (SC/PR)
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