Bar­ba­dos is en­hanc­ing ac­cess to fi­nance for mi­cro, small, and medi­um-sized en­ter­pris­es (MSMEs) through a US$50 mil­lion loan from the In­ter-Amer­i­can De­vel­op­ment Bank (IDB).

The Wash­ing­ton-based fi­nan­cial in­sti­tu­tion said that this pro­gramme, sup­port­ed un­der the IDB’s Flex­i­ble Fi­nanc­ing Fa­cil­i­ty, aims to stim­u­late pro­duc­tive in­vest­ments across the MSME sec­tor.

It said the fund­ing will be used to pro­vide loan guar­an­tees through el­i­gi­ble fi­nan­cial in­ter­me­di­aries, en­abling MSMEs to in­vest in ar­eas such as prop­er­ty, fa­cil­i­ties and equip­ment, in­fra­struc­ture, and the adop­tion of new tech­nolo­gies, tech­niques, or process­es.