KarunaNews Story

Barbados has completed what it calls the world's first 'debt-for-climate resilience' swap which will see it invest $165 million to adapt to the damaging effects of climate change by boosting water management, food security and resilience, says Prime Minister Mia Mottley. The first debt-swap to free up money directly for climate adaptation, it will generate around $125 million for sewage treatment plant upgrades to boost water supplies and reduce pollution going into the Caribbean. Water availability for people and economic activity like farming is already far less than the global average. Construction of the New South Coast Water Reclamation and Re-use Facility will more than double water availability by 2050. Additional funds will be invested in mangrove conservation, water restoration and agricultural resilience.