EIB to provide loan to support water investment in Barbados

The European Investment Bank (EIB) has agreed to provide a loan of $12m for modernising water supply infrastructure and wastewater treatment equipment in Barbados.

EIB’s loan to the Ministry of Finance will enable Barbados Water Authority (BWA) to upgrade the island’s drinking water distribution network through improving efficiency and service quality while mitigating the adverse effects of climate change.

EIB vice-president Emma Navarro said: “The EIB is delivering to ensure a secure supply of clean water and ensure that water infrastructure is protected from a changing climate.

“As the largest international lender to the water sector worldwide, the EIB is pleased to be financing and providing its expertise to this project.

“This project will help to increase access to more efficient and reliable water supply in Barbados and build on our strong track record of supporting high-impact investment on the island and across the Caribbean.”

The loan will be used to rehabilitate aged and deteriorated leaking infrastructure, pipes and reservoirs.

It will also finance the replacement of about 16km of aged pipes and the repair of water reservoirs and pumping stations and help in preserving the limited water sources in the island.

Additionally, the loan will be used for improving the deteriorated wastewater treatment facilities in the water-scarce country.

Barbados Minister for Energy and Water Resources Wilfred Abrahams said: “We are facing very acute challenges with water and the water sector in Barbados.

“Climate change is real and the Small Island Developing states of which Barbados is one are on the frontline of the battle and taking a disproportionate share of the climate change casualties.”