Barbados lands $97M Canada climate loan as Mottley pushes debt below 100%

Barbados continues to convert its climate diplomacy into financing, with Canada committing roughly US$97 million through the GAIA Climate Loan Fund following Prime Minister Mia Mottley’s June meetings with Canadian and UK leaders during London Climate Action Week. The financing push comes as the island reports its debt-to-GDP ratio falling below 100 percent — down from nearly 180 percent in 2018 — and advances the home-grown BERT 2026 reform plan backed by a precautionary IMF credit line. Officials caution that an oil-driven inflation spike remains the central near-term risk to household budgets.

Source: Prime Minister of Canada (readout); GOV.UK; Barbados Today (2026).