Expanded Support for the Sustainable Energy Framework for Barbados (SEFB) and Development of New Tec (IADB-BA-T1057)

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
Active
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
Dec 10, 2018
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
Government of Barbados
The holder of the loan, grant, or other investment.
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)
$ 0.20 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)
$ 0.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jan 14, 2019


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Project Description

According to the bank, this Technical Cooperation will continue to support the implementation of the Sustainable Energy Framework for Barbados (SEFB). The SEFB is a comprehensive framework aiming to unlock viable investments in Renewable Energy (RE) and Energy Efficiency (EE) to reduce energy costs, reduce dependency on imported fossil fuels, improve energy security, promote an enabling legal and regulatory framework for the deployment of RE and EE, and enhance environmental sustainability.

The Public Sector Smart Energy (PSSE) (BA-L1025) program aims at replacing all street lights in Barbados with energy-saving lamps and retrofitting government buildings to generate energy savings, and The Deployment of Cleaner Fuels and Renewable Energies in Barbados (BA-1012) operation has the objective to enhance Barbados' energy security and sustainability by diversifying its energy matrix through promoting the use of cleaner fuels for power generation including Natural Gas, and increasing the use of Renewable Energy (RE) sources. This TC will also support the execution of the Smart Fund II (currently under preparation) (BA-L1043) which has a main objective to expand the financial instrument designed and implemented under (BA-L1020) to support small businesses acquire state-of-the-art RE and EE equipment,, promote electromobility, the applicability of energy storage, and institutional strengthening. 

Investment Description
  • Inter-American Development Bank (IADB)
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).