Barbados and U.S. Ex-Im Bank Sign $500M MOU to Boost Renewable Energy and Cybersecurity
November 25, 2024
Barbados and the U.S. Export-Import Bank sign a US$500 million MOU to enhance sectors like renewable energy, cybersecurity, water, and maritime awareness, supporting Barbados' renewable energy goals and digital security.
Barbados and the U.S. Export-Import Bank (USExim Bank) have signed a US$500 million Memorandum of Understanding (MOU) to improve critical sectors, including renewable energy, cybersecurity, water and sanitation, and maritime domain awareness.
The agreement, signed on Monday by Prime Minister Mia Amor Mottley and USExim Bank Chairwoman Reta Jo Lewis, will finance U.S.-made goods and services for government projects that align with the island’s push for 100 per cent renewable energy by 2030 and enhanced digital security.
Speaking during the signing event, Chairwoman Lewis said, “We see Barbados as a key country in the Caribbean where Exim can support impactful projects that improve lives and build economies.
“From small-scale business support to large transformational infrastructure projects, Exim has the tools to help a wide variety of clients across Barbados.”
Prime Minister Mottley described the agreement, which remains in effect through 2026, as a win for both nations, noting that the focus areas of the agreement “are all central to maintaining a healthy investment climate for future foreign investment in Barbados.” (SM)
