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Barbados Signs Historic Debt-for-Climate Swap Agreement: $40 Million Allocated for Sewage Treatment Plant Upgrades
Barbados signs historic debt-for-climate swap agreement worth $40 million in grant resources to upgrade sewage treatment plant and enhance water security, with potential for debt-for-social swap discussions.
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Originally published by barbadostoday.bb (opens in new tab)
Minister in the Prime Minister’s Office with responsibility for Culture, Senator Shantal Munro-Knight, has announced that Barbados has signed a historic debt-for-climate swap agreement.
The agreement, which includes $40 million in grant resources, will be used to upgrade the South Coast sewage treatment plant and enhance the island’s water security.
“Just yesterday, under the Green Climate Framework, we signed a historic debt-for-climate swap agreement,” she said.
“This allows us to use $40 million in grant resources, without incurring new debt, to upgrade the South Coast sewage treatment plant and protect our water resources, which are increasingly threatened by the climate crisis.”
The minister also revealed that discussions are underway regarding a potential debt-for-social swap. (SM)
Read the full story in Wednesday’s E-paper
