BARBADOS GLOBAL GATEWAY NATURE GUARANTEE

Promoter – Financial Intermediary

GOVERNMENT OF BARBADOS

Location

• Barbados

Description

The operation aims to effectively address the impacts of climate change, biodiversity loss and pollution, by: i) supporting key investments and enabling activities to sustainably manage natural resources, protect and enhance the resilience of critical and fragile ecosystems as well as the services they provide; ii) conditions and requirements to improve the institutional framework to strengthen Barbados' adaptive, financial and environmental capacity.

Objectives

The aim is to make the water system more resilient to climate change, generate renewable energy to mitigate its impacts and reduce marine pollution. The investments under the EIB's Guarantee will also improve the management of ground water resources and make reclaimed water available to sustainable agricultural activities, thereby contributing to food security. Additionally, the operation will contribute to increase the resilience and health of marine ecosystems, hence mitigate and protect the island against the impacts of climate change and damages incurred from hurricanes and storm surges.

Sector(s)

• Water, sewerage - Agriculture, forestry and fishing
• Water, sewerage - Water supply; sewerage, waste management and remediation activities

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Proposed EIB finance (Approximate amount)

not disclosed

Total cost (Approximate amount)

not disclosed

Environmental aspects

The implementation of the investments under the EIB's guarantee will be done in line with the principles of EU environmental legislation and EIB's Environmental and Social Standards.

Procurement

The implementation of the investments under the EIB's guarantee will be done in accordance with the EIB's Guide to Procurement.

Status

Approved - 17/07/2024