Barbados, multilaterals sign deal to boost P3s

The Government of Barbados has agreed a package of measures with a coalition of multilateral banks to improve the country’s infrastructure, including through utilizing P3s.

The package will see Barbados working with the International Monetary Fund (IMF), as well as the Inter-American Development Bank (IDB), World Bank Group (WBG), the Development Bank of Latin America and the Caribbean (CAF), the European Investment Bank (EIB), and the Green Climate Fund (GCF).

Under the agreement, the partners will help to strengthen project preparation support to attract private investment in P3s to build more resilient infrastructure.

“Alongside new capital, innovative instruments, partnerships and new ways of working together are critical if we are to overcome the challenges posed by climate, pandemics and debt,” said prime minister Mia Mottley. “These new, integrated, initiatives announced today are embodiment of what can come out of new cooperative ways of working together.”