03 Dec 2009Blog

BARBADOS TAPS IDB FOR $400 MILLION

by Maxwell

BRIDGETOWN, Barbados (BGIS) — Four priority areas will receive funding totalling some $400 million, in the Inter-American Development Bank’s (IDB) Country Strategy with Barbados for 2009-2013.

The announcement was made by Prime Minister David Thompson at a recent press briefing at Government Headquarters.

The four sectors and the allotments forming part of the new strategy are coastal zone management and climate change adaptation, between $60 and $80 million; water and sanitation, approximately $100 million; energy, for which $80 to $100 million will be allocated; and education, which will also receive $80 to $100 million .

Stressing that the focus on coastal zone management and climate change adaptation were key to the tourism industry, Thompson revealed that the IDB would support government’s efforts to build resilience to coastal risks.

He said that this would be done by strengthening coordination across the different sectors that influence the health of the coastal zone. He explained that it would include improving mechanisms to assess and manage risks, through better data collection and cost recovery; improving disaster risk prevention; and developing a programme of shoreline stabilisation and marine zoning.