IDB Signs Barbados and Nicaragua Facilities

The IDB has approved loans for Barbados and Nicaragua. Barbados will get 2 facilities, one for $50m and another for $20m. The larger loan will help the Barbados Water Authority to modernize its infrastructure and improve efficiency. It has a 25-year term, a 5-year grace period and is priced basis Libor. The $20m loan will help raise agricultural health and food safety standards to international levels, it will have a 25-year term, a 4-year grace period and a variable interest rate based on Libor. Nicaragua, meanwhile, is getting $40.5m to improve tax collection and make social spending more efficient. The funding consists of a $20.25m loan from for a 30-year term, with a 5.5-year grace period, and a $20.25m loan for a 40-year term, a 40-year grace period, paying 0.25%.