World Bank chief urges lower barriers to attract investment

Small Island Developing States such as Barbados must reduce investment barriers, lower financing costs and create conditions that attract more private capital if they are to accelerate development, World Bank Group President Ajay Banga has said during a visit to the island.

Speaking to journalists during a tour of major development projects with Prime Minister Mia Mottley and senior government officials, Banga said countries needed to make it easier for businesses to operate while maintaining safeguards that protect citizens.

A more efficient regulatory environment, he argued, would make island states more attractive destinations for investors.