The Inter-American Development Bank (IDB) has approved a US$100 million (BDS$200 million) guarantee for Barbados that will help the Government access funds for conservation activities at reduced rates.The Washington-based financial institution said the guarantee will allow the Government to create a long-term instrument to finance measures related to sustainability and marine conservation.Barbados has 92 kilometres of coastline and the Government has set a target of dedicating 30 per cent of the island to conservation as a Marine Managed Area (MMA).“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.
