Mia Mottley Secures USD $500 Million for Resilient Development Projects in Barbados

November 25, 2024 Alwin Marshall-Squire

BARBADOS – Barbados has taken a major step forward in its development agenda, thanks to a newly signed Memorandum of Understanding (MOU) between Prime Minister Mia Amor Mottley and the Export-Import Bank of the United States (EximBank US). The agreement, signed on November 25, 2024, unlocks up to USD $500 million in funding for projects across critical sectors, including cybersecurity, renewable energy, water and sanitation, and maritime awareness.

In a statement shared via social media, Prime Minister Mia Mottley expressed gratitude to EximBank US and its chairperson, emphasizing the transformative potential of the partnership. These targeted projects aim to bolster the country’s resilience and sustainability in the face of evolving global challenges.

Today, I signed an MOU with the @EximBankUS, unlocking up to USD $500M for projects in cybersecurity, renewable energy, water & sanitation, and maritime awareness – areas key to building a resilient Barbados.

Thank you, @EXIMChair, for this transformative step forward! pic.twitter.com/WbaQKysvmt

— Mia Amor Mottley (@miaamormottley) November 25, 2024

The funding aligns with the government’s ongoing efforts to prioritize innovative solutions and infrastructure upgrades to drive national growth. This includes enhancing digital security, promoting renewable energy sources, ensuring access to clean water, and strengthening Barbados’ maritime capabilities.

The partnership represents another milestone in the Prime Minister’s commitment to fostering international collaboration to address pressing development needs. The agreement underscores Barbados’ strategic focus on building a robust, future-ready economy while addressing environmental and security concerns.

Vision Newspaper will continue to monitor updates on these vital initiatives as they unfold.