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The Inter-American Development Bank (IDB) has approved a US$50 million loan to help Barbados boost the climate resilience of its coastal areas and foster climate-resilient economic development.
“The operation approved by the IDB’s Board of Executive Directors will reduce the risks of erosion and flooding along the country’s coasts and make coastal activities safer for communities and tourists,” said IDB.
Barbados has 60 miles of coastline, 20 of which are central to the country’s tourism industry, attracting over one million visitors annually and accounting for 13% of the country’s domestic product (GDP).
The coastline is also highly valuable for community fisheries and international logistics but is threatened by challenges such as declining coral reefs, erosion and coastal flooding.
The program will build integrated infrastructure – such as breakwaters , drainage works, walkways, boardwalks and groynes – to reduce climate risk along the country’s coasts. It will also include beach restoration activities.
According to IDB, this operation is set to strengthen the institutional capacity to implement public policies for integrated management of climate-resilient coastal zones.
To this end, it will include measures such as improving the National Coastal Risk Information and Planning Platform to enhance the capacity to analyze climate risk information, said IDB.