CAF will assist Barbados in fostering water security

CAF—development bank of Latin America and the Caribbean—signed a Letter of Intent with the Government of Barbados to assist in the design and implementation of national Water Security strategies, preserving the availability of water for multiple uses, prioritizing human consumption. The joint work will also allow us to pick up the pace to offer sanitation for all, curb pollution of water bodies, and assist in the rational and timely management of droughts and floods.

The Letter of Intent, signed by Barbados Finance and Economic Affairs Minister Ryan Straughn, and CAF Executive President Sergio Díaz-Granados, describes the goal of assisting Barbados in devising and implementing policies, technical capacity, and actions to advance efficient use and preservation of water.

Barbados is one of the three Caribbean shareholder countries of CAF. Since 2015, CAF has approved a total of six loans to Barbados. One of these loans, for up to USD 10 million, partially funds the Barbados Water Infrastructure Rehabilitation Project, aimed at improving quality, reliability, and efficiency of Barbados' drinking water supply systems and devise an industry strategy by preparing a Master Plan.

In compliance with its Water Security Strategy 2023–2026, CAF is engaged in offering technical and financial resources to enhance water security in Barbados and the Eastern Caribbean, as well as dedicated assistance to meet the multi-dimensional needs in this sector. The Strategy addresses two major challenges: 1) economic revival, where water security plays a pivotal role, and 2) improving climate resilience of population groups and ecosystems through strategic and rational use of water.