The Inter-American Development Bank Group (IDB Group) has formally initiated a comprehensive five-year strategic framework for Barbados, designed to propel economic advancement while simultaneously fortifying social and climate resilience. The 2025–2030 strategy, officially endorsed in May 2025, was developed following rigorous economic analysis led by Cloe Ortiz de Mendivil, the IDB’s Country Economist for Barbados and The Bahamas.
Unveiled at a stakeholder briefing held at the Bank’s Oistins offices, the strategy is structured around three foundational pillars. The first is dedicated to fostering sustainable economic growth, while the subsequent two focus on building social resilience and climate-related resilience. Carina Cockburn, IDB Country Representative for Barbados, emphasized the interdependence of these goals, stating that resilience, while necessary, is not by itself sufficient for achieving broader economic development objectives.
In a significant departure from conventional presentation formats, the IDB employed an innovative dissemination approach to enhance public accessibility. The launch event featured an interactive session led by Neil Waithe and the Leggo Theatre Company, who utilized improvisational performance to translate complex policy terminology into engaging and relatable messaging for a diverse audience.
Concurrently, the IDB introduced the BOLD Catalyst Board, an 18-member civil society advisory body operational across all IDB member countries. This board will provide critical feedback during the project design phase, ensuring initiatives avoid harmful practices and adequately incorporate stakeholder perspectives. The board will also assist in information dissemination and help maintain alignment with local needs throughout the implementation process.
Cross-cutting themes of innovation, diversity, and institutional strengthening will be mainstreamed across all initiatives. Specific programs already in development include an Enhanced Credit Guarantee Fund with the Central Bank under the economic growth pillar, and a pipeline replacement project aimed at securing Barbados’ potable water supply as part of climate resilience efforts.
Beyond financial lending, the IDB’s engagement encompasses substantial technical cooperation, providing expertise, analytical support, and advisory services to assist Barbadian policymakers. Reflecting on the enduring partnership, Kay McConney, Minister of Economic Affairs and Investment, highlighted that the relationship between the Government of Barbados and the IDB Group remains rooted in shared vision, mutual trust, and open communication.