Barbados just rewrote the climate playbook! The island nation announced the world’s first debt-for-climate-resilience swap, turning financial burdens into eco-innovation. Partnering with the Inter-American Development Bank and the European Investment Bank, Barbados refinanced $293.3 million of debt, linking repayment to sustainability goals. Miss those targets? Penalties apply!
With 4x less water than the global average, the Caribbean hotspot is funneling $125 million in savings into water infrastructure. Projects like the New South Coast Water Facility aim to double water supply by 2050 — a lifeline for farms and families.
But it’s not just H2O: Funds will also boost food security and protect biodiversity. This model could inspire other nations drowning in debt (and rising seas). As global temps climb, Barbados proves climate action isn’t just a cost — it’s an investment.
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Barbados leads with world’s first debt swap for climate initiatives
cgtn.com