SAN JUAN – The Inter-American Development Bank, or IDB, has approved a $25 million loan to Barbados to rebuild sections of two major highways and lower transportation costs, an IDB spokesperson told EFE on Monday in a telephone interview.
The funds will be used to improve approximately 31 kilometers (19 miles) of key segments of Barbados’s primary road network, including the ABC Highway and the Charles Duncan O’Neal Highway, connecting tourist, industrial and business areas with Bridgetown’s port and Grantley Adams International Airport.
The project will include drainage, construction of sidewalks, overhauling of associated bridges and culverts, and the addition of safety features.
“It is expected that this project will contribute to sustainable growth in the Barbadian economy through interventions to rationalize and improve public sector efficiency and by supporting private sector participation and development through greater involvement in the transport sector,” the IDB said in a statement.
For the past 15 years, the number of motor vehicles on the road in Barbados has increased, affecting the flow of traffic and causing growing concerns in the tourism industry.
Barbados, located in the eastern Caribbean, has a population of about 300,000.