Barbados Signs US$500Mn MOU with USExim Bank

  • Barbados and the U.S. Export-Import Bank (USExim Bank) have signed a US$500Mn Memorandum of Understanding (MOU) to improve critical sectors, including renewable energy, cybersecurity, water and sanitation, and maritime domain awareness.
  • The agreement, signed on Monday by Prime Minister Mia Mottley and USExim Bank Chairwoman Reta Jo Lewis, will finance U.S.-made goods and services for government projects that align with the island’s push for 100 per cent renewable energy by 2030 and enhanced digital security.
  • Speaking during the signing event, Chairwoman Lewis said, “We see Barbados as a key country in the Caribbean where Exim can support impactful projects that improve lives and build economies.
  • “From small-scale business support to large transformational infrastructure projects, Exim has the tools to help a wide variety of clients across Barbados.”
  • Prime Minister Mottley described the agreement, which remains in effect through 2026, as a win for both nations, noting that the focus areas of the agreement “are all central to maintaining a healthy investment climate for future foreign investment in Barbados.”

(Source: Barbados Today)