BARBADOS WILL have to pay over $25 million for additional shares in the World Bank.
The island was graduated from certain World Bank concessional funding a long time ago, after being deemed ineligible because of its advanced status.
But leader of Government Business in the Senate Maxine McClean said Wednesday the benefits Barbados stood to gain from membership of the international institution justified continued association and meeting the requested financial contribution.
McClean introduced the International Bank for Reconstruction and Development Membership of Barbados Amendment Bill 2017 to facilitate the legal authorisation of the Government of Barbados to subscribe to shares of capital stock in the International Bank for Reconstruction and Development (IBRD) otherwise known as the World Bank. (GC)
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