Matters pertaining to providing financial and technical support to ministries and state-owned enterprises were among the areas discussed as government expressed a keen interest in working more closely with the CAF Development Bank of Latin America.
These areas were discussed when Minister in the Ministry of Finance, Economic Affairs and Investment, Ryan Straughn and CAF’s Representative for Trinidad and Tobago and Vice-president of Country Programs, Gianpiero Leoncini, met during a courtesy call recently.
Minister Straughn extended thanks to CAF on behalf of the government for its financial assistance during the last two years as Barbados navigated the financial fallout from the COVID-19 crisis.
He pointed out that there was evidence of some economic activity enhanced by the staging of the recent West Indies and England cricket test series and was optimistic that the revenue streams could be maintained for the rest of the year.
“But the reality is that financing our way through this process until we get back to that normality is going to be absolutely critical. So, on behalf of the government, let me thank CAF for allowing us to get to this point,” Mr. Straughn said.
Mr. Leoncini said he was pleased to collaborate with the government over the last three years and added: “We have developed a very productive relationship with the Ministry and with the country.”
He pledged to lend CAF’s expertise to shore up the island’s drainage system in light of Barbados’ efforts at climate mitigation.
The two officials also discussed financing of critical projects and the technical assistance for sectors that required reinforcement, feasibility studies and institutional strengthening.