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IDB approves US$25m loan


IDB approves  US$25m loan

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The Inter-American Development Bank (IDB) yesterday said it had approved a US$25 million loan to Barbados to improve the quality of its road infrastructure and competitiveness.

The IDB said the loan, for a 25-year term, with a five-year grace period,  will finance the rehabilitation and improvement of approximately 31 kilometers of key segments of primary road network, including drainage, construction of sidewalks, rehabilitation of associated bridges and culverts, and safety features along with a pilot for outsourced performance-based routine road maintenance.

It will also contribute to the strengthening of transport sector governance through capacity building within the Ministry of Transport and Works (MTW) in the key areas of transport planning and asset management, maintenance financing, technical standards for quality control and assurance, gender parity, and road safety.

Please read the full story in today’s Saturday Sun, or in the eNATION edition.