Wednesday, Feb 20, 2019

PM meets with IDB

PM meets with IDB
20 Jun

Prime Minister Mia Mottley has taken steps to repair the fractured relationship between Barbados and the Inter-American Development Bank.

The country has had five loans cancelled from the IDB between 2016 and 2017 the Prime Minister is adamant that must be a thing of the past.

During a courtesy call from IDB President Luis Alberto Moreno at Government Headquarters on Bay Street, Prime Minister Mottley said the island's disbursement rate is among the lowest in the hemisphere at just 13 percent.

Barbados has a loan portfolio with the IDB of $191 million US dollars of which $135.7 million remains undisbursed.

Ms. Mottley says as a result, there are three major loans that need to be addressed immediately.

President Moreno says having interacted with Prime Minister Mottley for thirteen years, he personally knows of her commitment to Barbados.

He said the decisive action she has taken since taking up the reins of government shows her willingness to bite the bullet for a greater good.

President Luis Alberto Moreno also said Barbados is well poised to access millions of dollars from the Inter-American Development Bank for major developmental programmes.

Mr. Moreno says the IDB stands ready to support Barbados not only in balance of payment issues but also developmental issues.

Mr. Moreno adds that the IDB will also financially empower Barbados' private sector.

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