Barbados to promote environmental sustainability with IDB guarantee

The Inter-American Development Bank (IDB) says Barbados will promote environmental sustainability and economic development with a US$100 million guarantee.

It will allow the country to create a long-term instrument to finance measures related to sustainability and marine conservation.

The Mia Mottley government has set an aspirational target of 30 per cent of Barbados to be dedicated to conservation as a Marine Managed Area.

"The IDB guarantee will help reduce borrowing costs for the country as it seeks to raise funds for conservation activities, which include the creation of a conservation trust fund known as the Barbados Environmental Sustainability Fund," the IDB said in a statement on Thursday.