Blue economy strategies are amongst the most promising approaches to support small island developing states. In Barbados, transforming the island’s 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.
Through the INFF process, the Government of Barbados aims to develop an enabling environment for financing the blue economy. This includes identifying policy and regulation gaps, blue economic opportunities and financing mechanisms to invest in resilient growth. By building on existing initiatives to engage the private sector, Barbados is establishing a consortium of public and private partners to channel substantial private resources towards SDG-aligned investments.