Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Barbados
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Development Bank (IADB)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-07
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Government of Barbados
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 34.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 34.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IADB website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-07-22
Deployment of the Use of Cleaner Fuels and Renewable Energies in Barbados
IADB-BA-L1012

Project Description
The objective of this project is to enhance Barbados' energy security, by diversifying its energy matrix and promoting the use of cleaner fuels for power generation and renewable energy. Specific objectives include: to (i) upgrade existing natural gas infrastructure to ensure natural gas service continuity; (ii) increase energy efficiency and renewable energy applications within the National Petroleum Corporation (NPC)'s and Barbados National Oil Company Limited (BNOCL)'s operations; (iii) enable implementation of a Public-Private Partnership project to import and supply liquefied natural gas for power generation; and (iv) provide technical support to NPC and BNOCL to foster organizational and operational efficiency.
Investment Description
The cost of the program is estimated at US$34,000,000 and will be financed by the IADB´s Ordinary Capital (OC) resources. It is expected that the loan financed with resources from IADB will have a 6 year disbursement period.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).
Bank Documents