Blue Economy Strategies are amongst the most promising approaches to support Small Island Developing States (SIDS). In Barbados, transformation of the economic structure is necessary to build resilience to exogenous shocks, including natural disasters, financial crises, and global pandemics, while preserving the country’s natural heritage.
The INFF will support Barbados in its effort to develop financing strategies for the Blue Economy and create an enabling framework for SDG investment.
Using the Blue Economy as an integral driver for resilient economic recovery and growth in the Eastern Caribbean, the emphasis of the INFF will be on the development of an enabling and supporting environment for financing the Blue Economy through different measures, including the identification of policy and regulation gaps, key Blue Economy opportunities, and specific financing mechanisms to achieve resilient growth. By upscaling the UN’s existing initiatives with the private sector, Barbados will benefit from the establishment of a public-private consortium which will leverage substantial resources from private actors.
For more details, visit the Joint SDG Fund website.