Tuesday, Apr 23, 2019

US$100 million loan

US$100 million loan
05 Oct

The Inter-American Development Bank is expected to approve a US$100 million loan for Barbados, in the coming weeks.

This announcement from the Bank's chief of operations, Francisco Javier Urra.

He says the loan is expected to provide the cash-strapped Barbadian government, with budgetary support.

Mr. Urra however stressed the loan will not affect its investments in the traditional areas which include roads, coastal management and energy.

In fact, he says the Bank is preparing to disburse some US$60 million in these areas, which is twice the amount it invested last year.

Meanwhile government's road rehabilitation programme is expected to begin in earnest as early as mid-October.

Minister of Transport, Works and Maintenance, Dr. William Duguid, says it's being funded through a $50 million dollar loan

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