The Inter-American Development Bank (IDB) will grant a guarantee for 100 million dollars to Barbados with the objective of promoting environmental sustainability and economic development.

The guarantee, with a maximum term of 20 years, will allow the country to create a long-term instrument to finance measures related to sustainability and marine conservation, as well as reduce borrowing costs at a time when the country seeks to raise funds for conservation activities, including the creation of a conservation trust fund called the Barbados Environmental Sustainability Fund.

The operation, structured as a policy-based guarantee, will also promote reforms to improve environmental governance and sustainable debt management. Likewise, it will contribute to the development of capabilities in the execution of projects by the Ministry of Finance, Economic Affairs and Investments (MFEI).