Barbados is receiving a US$54 million loan from the World Bank to fund the repair of vital infrastructure and safeguard vulnerable communities in the wake of Hurricane Beryl.
The multi-year initiative is being backed by technical assistance from the European Union, and will focus on restoring the fisheries sector, reinforcing coastal zones, and strengthening national disaster response systems.
Speaking at the official launch on Wednesday at Hilton Barbados, Minister of Economic Affairs and Investment Kay McConney underscored the significance of the partnership.
“We are proud as a Government of Barbados now to be joining with the World Bank to activate this $54 million loan,” she said. “This partnership represents resources to accelerate the recovery that has already started, and also to build our capacity in the sectors that are most affected.”
McConney stressed that although the devastation wrought by Hurricane Beryl was beyond national control, the response is firmly within it.
“Our response to bring about recovery—not only in the lives, but in the livelihoods of the people most affected—and our response to strengthen the infrastructure and the systems that enable resilience . . . that is where we take responsibility,” she said.
The loan, to be disbursed over six years, will support repairs and upgrades at the Barbados Fisheries Marina, the Bridgetown Port, and two severely affected coastal areas—Payne’s Bay and Six Men’s.
“This project will fund some of the coastal reinforcement works . . . that will certainly make a difference more fundamentally to the lives and the livelihoods of those people who actually make a difference,” the minister added.
The World Bank’s Senior Disaster Risk Management Specialist, Dr Norea Cherasko, detailed how the project will be implemented.
“The first component is really focusing on the immediate response and recovery from the hurricane,” she explained. “We are providing financial assistance to fishery folks so that they can repair and replace the damaged boats.”
Dr Cherasko added that a local financial institution will soon begin managing loans for fisherfolk, and infrastructure rehabilitation work is already underway. “Hopefully the breakwater could be finished, let’s say, around [the] end of August,” she said. “Things have been rolling in the background, and you can already see progress on the ground.”
The project also includes a contingency emergency response mechanism and a “rapid response option” to allow Barbados quick access to unspent funds in the event of future disasters. Dr Cherasko also highlighted a new “climate resilient debt clause”—an instrument pushed by Prime Minister Mia Mottley—which delays loan repayments to give governments fiscal space to prioritise recovery.
“It allows the government to focus on the immediate recovery and not have the pressure on their finances,” she said.
The European Union is supporting the effort with a €500 000 grant for technical assistance, enabling project execution through the World Bank.
Luca Trinchieri, team leader for Green Deal Partnerships at the EU Delegation to Barbados and the Eastern Caribbean, described the initiative as vital for long-term sustainability.
“By supporting the financial recovery of fisherfolk, rehabilitating coastal infrastructure… and enhancing climate resilience and coastal protection, this initiative will help safeguard both the economic and environmental sustainability of Barbados’ fisheries,” Trinchieri said. “We are also very eager to support Barbados in its vision of diversifying financial protection mechanisms against disaster risks.”
The Ministry of Environment will lead implementation, with support from the newly established Project Execution and Coordination Unit. Key local partners include the Fisheries Division, the Coastal Zone Management Unit, the Barbados Port, the Barbados Defence Force, and the Department of Emergency Management.
For Acting Director of the Coastal Zone Management Unit, Antonio Rowe, the initiative is welcome news. Recalling the harrowing scenes during Hurricane Beryl, Rowe said, “It was very heartbreaking to see, in particular, the devastation that was occurring inside the fishing harbour . . . to watch [fishermen] trying to actually risk their own lives, trying to protect boats . . . your livelihood just gone before you in a matter of seconds.”
(SZB)
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