Announcement of Barbados to Receive World Bank Loan for Technical Assistance on March 29, 1982

FOR IMMEDIATE RELEASE •world Bank 0 18'18 H Street, N.W., Washington; 0.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 82/67 Contact: Ciro Gamarra March 29, 1982 (202) 477-8034 BARBADOS TO RECEIVE WORLD BANK LOAN FOR TECHNICAL ASSISTANCE Barbados wi11 use a $2.7 mi11ion Wor1d Bank Joan to provide technica1 assistance for agricultura1 diversification and energy conservation. The $3.7 million project wi11 strengthen institutional capabi1ities and train 1oca1 counterpart staff to work with farmers and energy users. For the agricultural sector, the project will provide consu1tant services to advise the government on the development of nonsugar agriculture by improving policies, extension work, irrigation," and marketing. During the course of project implementation, training will be provided and short-term pilot projects may be carried out. Recognizing the importance of energy management, the government wi11 use about 40 man-months of consu 1tant services for promoting energy conservat i ort,. A permanent energy conservation organization will be set up and a national conservation program wi11 be implemented. The program will include developing local expertise,, advising and motivating consumers, improving the transport system, and providing credit facilities for energy conservation. Specialized short-term training will upgrade qualifications of energy managers, engineers, and other government staff. The project wi11 also provide equipment and lib- rary materials. Overa 11 respons i bi 1 i ty for the project wi 11 be assumed by the Office of Finance and Planning, in the Ministry of Finance and Planning, Government Head- quarters, Bay Street, St. Michael, Barbados. This loan for technical ~ssistanc~ provides support for programs not covered by other aid agencies. the Bank has previously Jent to Barbados for education, tourism, industry, and power. The loan, which is the fifth from the World Bank since Barbados became a Bank member in 1974, brings Bank lending to Barbados to a total of $35.7 mil- lion. It is for 15 years including a grace period of three years, at 11.6% interest per annum. ~· NOTE: Money figures are expressed in U.S. dollar equivalents.