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Barbados has received a multimillion dollar boost in its effort to better finance climate resilience and action.
The Barbados-based Blue Green Bank has received a 15 million US dollar injection.
This after the board of the Green Climate Fund, the world’s largest climate fund in Incheon, South Korea approved the investment.
This provides the Bank with a capital base of more than 80 million dollars and a capacity to lend 500 million dollars to invest in green affordable homes, assisting with providing hurricane resilient roofs, the electrification of transport, and other ‘Paris-aligned’ investments.
Prime Minister Mia Amor Mottley says Government sees the Blue Green Bank playing a particularly critical role in accelerating our transition to net zero, boosting resilience, enfranchising workers, draw in private-sector investment and prudently managing public finances and public debt levels.
