The Inter-American Development Bank (IDB) has disbursed US$80 million in loan to Barbados to help the country modernise its regulatory framework and strengthen its public policies on sustainable development and climate resilience.
“The programme, the first in a series of policy-based loans, provides budget support tied to the strengthening and consolidation of public policies focused on improving territorial planning efficiency and sustainability. Its comprehensive approach includes modernising policies for managing water resources, natural assets, and disaster risk and resilience,” a statement from the IDB read.
Barbados is currently updating legislation governing physical planning and development. In particular, the country is focused on the modernisation of integrated coastal zone management policies, which includes the revision of its returnable containers legislation. The law encourages the recycling of a broader set of packaging materials and reduction in pollution of land and coastal resources.
Further, the regulatory review will seek to enhance disaster risk resilience and management.
“Among other activities, the operation will help adopt a cross-cutting and multiyear approach at each phase of the disaster risk management cycle and will mainstream the use of the newly developed National Coastal Risk Information and Planning Platform (NCRIPP). All these steps are in line with the government’s new Roofs to Reefs Program,” the IDB said.