October 9, 2020
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
US-based development bank grants a $80 mln loan to deal with natural disasters