Barbados signs landmark debt-for-swap agreement

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