An agreement signed between Barbados and the European Union is part of a plan to cement relations between the Caribbean and the Union. The EU will invest US$9.1 million to develop the local energy sector under the Barbados National Indicative Programme (NIP).
Disbursed under the 11th European Development Fund (EDF), the investment will support the Government’s energy sector goals as defined in the draft 2013 Government of Barbados Energy Policy. Prime Minister Freundel Stuart stated that,
“The main elements of this policy are (l) to increase the share of economically viable renewable energy in Barbados’ energy mix; (2) to achieve savings in the country’s consumption of electricity compared to a ‘business as usual’ scenario; (3) to achieve savings in transportation and other non-electric energy uses and (4) to increase the sustainability and efficiency of fossil fuel exploration, production transportation, storage and use across all sectors.”
An important element of the policy is aimed at increasing the awareness and skills of the people of Barbados in relation to sustainable energy, via a pilot program for renewable energy and energy efficiency measures in primary and secondary schools. A complementary program will target educators, toward the goal of building capacity. According to EU ambassador to Barbados and the Eastern Caribbean and CREF 2015 speaker, Mikael Barfod, the agreement follows-on to an allotment of US$7.7 million, previously granted to assist the Smart Renewable Energy Programme. The financing agreement will be ready for signature by early next year, said Barfod, with € 3 million allocated to the [energy] sector; € 150,000 to support civil society; € 200,000 towards technical assistance to support or accompany the programming, preparation and implementation; and € 150,000 to support the office of the National Authorising Officer. To date, 87 percent of the total support for the Barbados Human Resource Development Program, US$110 million, has been disbursed.
To read more about this program, click here.
