IDB making US$80M available to Barbados
The Inter-American Development Bank (IDB) has moved swiftly to make crucial budgetary support available to the Government of Barbados, as the country continues efforts to contain the spread of the novel coronavirus (COVID-19).
On Wednesday, IDB Country Representative, Juan Carlos De La Hoz Viñas, and Prime Minister Mia Amor Mottley signed the contract for the US$80 million policy-based loan (PBL), which was approved by the IDB Group Board of Directors on March 11.
This US$80 million PBL provides budget support tied to the strengthening of public policies focused on sustainability, disaster risk and resilience; and affords Government the flexibility to focus on priority areas.
Following yesterday’s signature, the IDB and the Government of Barbados will continue working assiduously to expedite the disbursement of the funds. (PR)
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