World Bank approves $108 million loan
The World Bank has approved a US$54 million (BDS$108 million) loan for Barbados, which Prime Minister Mia Amor Mottley said will not only help the country bounce back from Hurricane Beryl but “stand stronger in the face of the next one”.
On Thursday the international financial institution’s board of executive directors approved the Beryl Emergency Response and Recovery Project to support Barbados’ recovery from the impacts of Hurricane Beryl.
Officials said the project, which is expected to benefit approximately 24 640 people, includes innovative World Bank mechanisms which will help Barbados and other vulnerable countries better respond to disasters.
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