Barbados Secures US$150 Million IDB Loan to Power Its Renewable-Energy Transition

Barbados has won approval for a US$150 million loan from the Inter-American Development Bank to give its energy sector a major boost, advancing the island’s stated drive toward renewable power and a net-zero target by 2035. The financing aligns with Prime Minister Mia Mottley’s broader BERT 2026 economic strategy, which places sustainable energy and climate resilience at the centre of long-term planning.

The loan follows a June meeting in which Canada signalled support for battery-storage and grid-integration expertise to accelerate the same transition. For diaspora investors and Bajan households alike, cheaper and more reliable power is the prize, though the Central Bank has lately had to reassure workers over delayed salary payments, a reminder that fiscal headroom remains tight even as capital flows in.

Source: Nation News (Barbados); Inter-American Development Bank; Prime Minister of Canada (readout).