Barbados and other CARIFORUM states have the opportunity to benefit from up to €800 million (BDS$1.6 billion) over the next seven years. The funds are being mobilised by the European Investment Bank (EIB), for climate mitigation and adaptation, healthcare systems upgrade and renewable energy efforts.The EIB is making some €250 million in loans available under two new programmes - the Green and Inclusive Recovery Programme and the Caribbean Sustainable Water Management and Clean Oceans Programme.Vice-President of the EIB Ricardo Mourinho Félix explained that this funding was designed to attract additional financing from private investors and financial institutions that would result in up to €800 million being made available in loans for infrastructure upgrades.“The EIB is considering €250 million to €300 million. With this amount we can mobilise other partners so that we can bring investment in green transition, resilient infrastructures, healthcare systems, supporting SMEs that can go up to €800 million in the next seven to eight years,” said Mourinho Félix.He explained that the EIB was committing €150 million to the Caribbean Sustainable Water Management and Clean Oceans Programme. Loans from this will be blended with a €17 million grant from the European Union’s Caribbean Investment Facility (CIF) for technical assistance and investment.
