CAF to support Barbados in the development and implementation of national strategies related to Water Security

CAF, Development Bank of Latin America and the Caribbean, signed a Letter of Intent with the Government of Barbados to support in the development and implementation of national strategies related to Water Security, safeguarding water availability for multiple use, with priority for human consumption. The collaboration will also accelerate the pace for providing sanitation for all, reduce the contamination of water bodies and support the sound and timely management of drought and floods.

This Letter of Intent, signed for the Minister of Finance and Economic Affairs of Barbados Ryan Straughn and CAF’s Executive President Sergio Díaz-Granados, aims to support Barbados in the development and implementation of policies, technical capacity and actions to promote the efficient use and conservation of water.

Barbados is one of three Caribbean shareholder countries in CAF. Since 2015, CAF has approved a total of six loans to Barbados. One of these loans partially finances the Barbados Water Infrastructure Rehabilitation Project for up to US$10MM to improve the quality, reliability, and efficiency of Barbados’ potable water systems and to formulate a Strategy for the sector through the preparation of a Master Plan.

In keeping with its Water Security Strategy 2023-2026, CAF is committed to providing technical and financial resources to enhance water security in Barbados and Eastern Caribbean as well as dedicated support for the multi-dimensional needs related to this sector. The Strategy addresses two major challenges: 1) economic reactivation in which water security plays a fundamental role and 2) increasing the climate resilience of populations and ecosystems through the strategic and rational use of water.