Barbados to Improve Governance for Sustainability with IDB Support

• The Inter-American Development Bank (IDB) has approved a $100 million loan to support sustainable development in Barbados. The program is the second in a series of three policy-based loans. 
• The program will support maintaining a stable macroeconomic environment and deepen the reforms initiated under the first operation, an $80 million loan approved in March 2020. It provides budget support to strengthen and consolidate public policies focused on improving sustainability in three thematic areas. 
• The first area of policy reform is the regulatory framework for spatial planning, managing the impacts of development activity, and water resource management. Among other initiatives, this covers the development of regulations and plans for the Planning and Development (Amendment) Act of 2020, and progress in regulating Rainwater Harvesting, Water Reuse, and Ground Water Zoning and Protection. 
• It will also foster further development of the regulatory framework for natural asset management, including the approval of the updated Integrated Coastal Zone Management Plan, the Guidelines and Protocols for the Operation of Solid Waste Management Facilities, and the approval of an Integrated Blue Economy Policy Framework and Strategic Action Plan.

(Source: IDB)