IDB offers disaster relief to Barbados

IDB offers disaster relief to Barbados

Loans Debt Economy & Policy Barbados Caribbean United States

The Inter-American Development Bank (IDB) said Thursday that it approved a 25-year loan for $80 million for disaster relief in Barbados. The contingent loan comes with a 5.5-year grace period and provides "cost-effective and quick access" to financing during emergencies caused by natural disasters, the IDB said in a press release. It also helps Barbados "build financial resilience to disaster and climate risks," the bank added. As an island nation in the Caribbean, Barbados is vulnerable to hurr

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