Sustainable Energy Investment Program (Smart Fund II) (IADB-BA-G1002)

Countries
  • Barbados
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
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.
Voting Date
Sep 20, 2019
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.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 15.46 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Oct 2, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to IADB website, the project aims to reduce Barbados's dependency on imported fossil through the increased use of RE and EE technologies. The specific objectives of the program are: (i) To reduce electricity consumption in the commercial, residential and public sectors by implementing RE and EE measures, increase electric mobility and hence obtain energy and financial savings that will contribute positively to the country's difficult macroeconomic situation. (ii) To reduce Green House Gases (GHG) emissions from liquid fossil fuels used for power generation and transport. (iii) To increase institutional capacity for the management of RE and EE project preparation and implementation.

 
Investment Description
  • Inter-American Development Bank (IADB)
Contact Information

No contact information provided at the time of disclosure. 

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).