The IMF’s Executive Board has approved for Barbados a 36 month arrangement under the Extended Fund Facility in an amount equivalent to about US 113 million dollars.
They’ve also approved an arrangement under the Resilience and Sustainability Trust (RST) in an amount equivalent to about US 189 million dollars.
The IMF Executive Directors have strongly commended Barbados on the performance under the previous EFF programme and have welcomed ambitious reform plans under the new joint arrangement.
This development comes as Prime Minister Mia Amor Mottley prepares to travel to Washington Monday to advance talks about accessing funds from that IMF Resilience and Sustainability Trust.
The Trust was set up to help low-income and vulnerable middle-income countries build resilience to external shock.
Prime Minister Mottley says Barbados, Rwanda, Bangladesh and Costa Rica are among the first countries to benefit.
She says in the absence of adaptation funding, the Trust is the best option.
Prime Minister Mottley’s comments came during the 12th Caribbean Conference on Comprehensive Disaster Management organised by the Caribbean Disaster Emergency Management Agency (CDEMA).
She told those present that CDEMA has been a success story for the region.
About The Author
More Stories
Windies Women defeat Pakistan Women
Smooth ride
Russia making daily gains in Ukraine