BARBADOS GLOBAL GATEWAY NATURE GUARANTEE

signed

The operation consists of EIB's first credit enhancement under a Debt for Climate Conversion in which the Bank provides a pro-rata credit guarantee for a new sovereign sustainability linked debt issuance by the Government of Barbados, that will replace more expensive legacy debt. The generated savings from the Debt for Climate Conversion will be used for key investments in infrastructure and enabling activities to protect and increase the resilience of natural resources, and critical and fragile ecosystems and the services they provide; thereby contributing to reducing and mitigating the impacts of climate change. The Debt for Climate Conversion structure also includes conditions and requirements for improvements in the institutional framework to strengthen Barbados' adaptive, financial and environmental capacity to address and manage climate change impacts, biodiversity loss.