IDB launches new Barbados strategy to drive growth, resilience

The Inter-American Development Bank Group (IDB Group) has unveiled a five-year country strategy for Barbados, outlining plans to boost economic growth and strengthen social and climate resilience as part of its new 2025–2030 framework.

With the tagline “Be Bold” setting the tone, the IDB Group outlined an ambitious strategy to address development issues over the next five years.  

Stakeholders gathered on Wednesday evening at the organisation’s Oistins, Christ Church, offices for a briefing on the initiatives that will guide the Bank’s engagement with the island.  

Speaking to the media, IDB Country Representative for Barbados, Carina Cockburn, said that following extensive economic analysis, the strategy, developed under the leadership of Cloe Ortiz de Mendivil, the IDB’s Country Economist for Barbados and The Bahamas, was approved in May 2025.  

Cockburn said: “The strategy has three pillars. The first is economic growth, and then there are two resilience pillars – social resilience and climate-related resilience.”  

She emphasised: “Without resilience, we will not be able to achieve economic growth, but resilience is necessary, but not sufficient to achieve the objectives of economic development in the country.”  

As part of the launch, the IDB deliberately departed from a traditional presentation format, opting instead for a creative dissemination approach aimed at making the strategy more accessible. Neil Waithe and members of Leggo Theatre Company, known for their improvisational style, led the session, using performance to translate technical policy language into relatable, audience-friendly messaging.  

Explaining the reasoning behind the unconventional delivery, Cockburn said: “The country strategy document is a very detailed academic analysis, with data and justifications for why we want to work in the areas that we have selected. It may not be as readily accessible to most of the citizens and stakeholders who would benefit from the strategy objectives, or who would take part in working on the different areas, or who need to be enrolled and contribute to the achievement of the objectives.”  

She added: “What we want to do in this dissemination process is to engage with stakeholders, break down the strategic objectives into simple language like what you heard today, and really interpret some of that technical language so that people can understand and see themselves in the strategy and be able to understand it and contribute to it.”  

Attendees were also introduced to the BOLD Catalyst Board, the IDB’s civil society advisory body mandated across the countries in which it operates. Cockburn noted: “We will present to them the projects when they are still in the design phase, and they will give us feedback so that we can fix things, make sure that we are not engaging in things that are harmful practices, or we are not taking into account all of the stakeholders well enough.”  

The 18-member board will also assist with information dissemination and help ensure the strategy remains responsive to local needs as it moves from planning to implementation.  

Cockburn highlighted: “Innovation, diversity and institutional strengthening are the cross-cutting themes that will be mainstreamed in everything we do.”  

New programmes are already being designed. Under the economic growth pillar, this includes the Enhanced Credit Guarantee Fund with the Central Bank, while under the climate resilience pillar, there is a pipeline replacement project aimed at improving Barbados’ potable water supply.  

Cockburn added: “It is not just about the loans we do; we have a lot of technical cooperation within the country. We provide expertise, advice, analysis – and this supports the policymakers in making decisions about these areas as well.”  

Addressing the longstanding relationship between the Government of Barbados and the IDB Group, Minister of Economic Affairs and Investment, Kay McConney, said: “It has been one that was based, and is still based, on a shared vision and shared values, on mutual trust and open communication.”  (STT)