The way is now clear for Barbados to access greater climate resilience funding from one of the more responsive and flexible multilateral development banks in this hemisphere.
Minister in the Ministry of Finance Ryan Straughn announced at a post-Cabinet press conference on Thursday that this is being made possible with Barbados now becoming a full member of the Development Bank of Latin America and the Caribbean (CAF).
Straughn revealed that Cabinet approved the move to full membership after 11 years as a shareholder at a lower level.
“And therefore, as we mark just about 11 years of membership of CAF, we feel the time is ripe to be able to ensure that as we start to accelerate our climate resilience building in the country, that we are able not just to unlock financing for public sector projects, but equally, the entire country will be able to access resources from CAF in order to ensure that both the public sector as well as the private sector, in particular, are able to strategically invest in the future for Barbados,” he stated. (EJ)
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