Opposition Senator Urges Government Accountability for $1.3B Climate Resilience Funding in Barbados

An opposition senator has expressed concern about the government’s handling of the $1.3 billion climate resilience funding and what he calls a lack of transparency surrounding the utilisation of substantial financial resources acquired to combat climate change.

Senator Ryan Walters believes greater accountability and detailed reporting are needed on how these funds are being used to build resilience in Barbados.

“We have had a lot of discussion in Barbados surrounding what we refer to as building resilience against climate change,” Walters stated recently during a media conference at the Offices of the Opposition Leader.

“I know a lot of Barbadians are getting weary of the terms resilience and climate change, and everything is kind of angled back and directed back to this whole phenomenon of climate change. I don’t agree that we’re thinking Barbadians, the Democratic Labour Party, definitely does understand the importance of climate change and the impact that climate change will have.”

He acknowledged the awareness and understanding among Barbadians regarding the effects of climate change, such as sea erosion, renewable energy, and increasing temperatures. “We hear about the erosion of the seas and the sands. We hear about renewable energy. We hear about how hot the days are. We know, we understand, and we appreciate that there has to be a response from the government.”

However, the senator pointed out a significant gap in communication from the government about their specific actions and responses to these challenges.

“But missing from this conversation, we have not really understood or have not really gotten from the government what their response has been. They talk a lot about resilience, and they talk a lot on the national front. They talk a lot on the international stage. But they’ve been doing some things behind the scenes, and I know Barbadians have not really gotten the full sense of what this government has done from the perspective of financing sustainability as it relates to building resilience against climate change.”

Senator Walters provided a detailed overview of the financial resources that Barbados has accessed since January 2023 to bolster climate resilience. In September 2022, the International Monetary Fund (IMF) stated in a press release that Barbados was the first country to reach a staff-level agreement to access its Resilience and Sustainability Trust (RST), which helps low-income and vulnerable middle-income countries build resilience to external shocks and ensure sustainable growth, contributing to their long-term balance of payment stability.

Barbados secured $366 million under the RST and another $220 million under an extended fund facility. Walters detailed the disbursement of these funds, citing official reports.

“So I turn now to the Section 9 report of 2023, just to see if we draw down on this money [and] Barbados, based on this report, has received BBD $151 million from the Resilience and Sustainability Trust in 2023, Barbadian dollars.”