Skip to main content

IDB approves US$30 million for a housing program in Barbados

The Inter-American Development Bank today approved a US$30 million loan for the first phase of a housing and neighborhood upgrading program in Barbados.

The objectives of the program are to improve the housing and neighborhood conditions of low and lower-middle income families and communities in Barbados and to improve and expand government housing systems that are affordable to households in the first four deciles of income distribution.

The program includes three main components: neighborhood upgrading, including the urban rehabilitation of two inner city communities; support for the production of affordable housing; and institutional strengthening of key management processes and systems.

“Specifically, the program seeks to produce an improved and expanded government support system for affordable housing and increase the mobilization of private sector resources in the formal financing of such housing,” said IDB project team leader, José Mauricio Silva.

Additionally, the IDB loan will help create an efficient system of government support for the physical and social upgrading of low-income neighborhoods and adapt and strengthen public housing institutions.

The executing agency for this operation is Barbados Ministry of Housing and Lands.

Jump back to top