A government-backed $600 million sustainability-linked loan, touted as a lifeline for ailing infrastructure and debt woes, was defended in the Senate on Friday as a bold step towards economic stability, with Senator Chad Blackman claiming it would overhaul the South Coast Sewage Plant and refinance costly debt without adding to the nation’s financial burden.
The Minister in the Ministry of Economic Affairs and Investment painted a picture of the dire state of affairs inherited by the Barbados Labour Party (BLP) when it assumed office in 2018. He cited years of neglect under the previous Democratic Labour Party (DLP) administration, which he claimed left the island in economic and infrastructural disarray.
Describing the condition of the South Coast Sewage Plant, Senator Blackman recalled: “For 36 months, sewage flowed on the streets of Barbados. This wasn’t just a health hazard; it was an embarrassment to our nation. Travel advisories warned tourists to stay away. Imagine the impact on a country whose primary income earner is tourism.”
The minister attributed the situation to what he called “ten years of economic mismanagement and fiscal indiscipline” by the DLP. He argued that the current administration’s decisive actions were necessary to stabilise the country and avoid further decline.
The loan facility, Blackman explained, would be used to refinance existing debt at lower interest rates while simultaneously funding critical infrastructure upgrades, including a tertiary-level sewage treatment plant at Graham Hall.
“This is not just about fixing pipes and pumps,” he said. “This is about restoring dignity to our people, ensuring public health, and safeguarding our tourism-dependent economy. And we’re doing this without increasing the country’s debt—something no other administration has been able to achieve.”
He further highlighted the broader significance of the resolution, linking it to Barbados’ efforts to enhance climate resilience and sustainable development.
“We are a small island but a big ocean nation. The blue economy and environmental sustainability must be at the heart of everything we do,” Senator Blackman added.
“This transaction is not just about numbers on a balance sheet. It’s about the lives of ordinary Barbadians—their health, their environment, their future. It’s about showing the world that Barbados can punch above its weight,” he said.
