Barbados’ Marine Spatial Plan (MSP) has reached some 80 per cent completion in data collection, covering 435 marine sites around the island.
Project Manager of the Marine Spatial Planning Unit Allison Wiggins confirmed this milestone during a press briefing on Friday, describing it as an important initiative in understanding and managing local ocean resources.
“This is a massive area to study and organise for the benefit of all Barbadians,” she said.
The MSP is guided by a multi-agency steering committee, including the Coastal Zone Management Unit, the University of the West Indies, and the Fisheries Division.
Wiggins revealed that so far, more than 510 stakeholder interviews have been conducted with representatives from fisheries, tourism, energy, and other sectors.
The project team, she shared, has also visited schools and parishes to gather additional community input, noting the importance of local perspectives in shaping the plan.
“Our approach is to reach every corner of Barbados and involve the public in the decisions about their marine space,” Wiggins added.
The MSP is a cornerstone of Barbados’ broader conservation efforts under a debt-for-nature swap finalised in 2022.
Financial Sector Senior Specialist with the Inter-American Development Bank (IDB), Michael Hall provided an overview of the $150 million financial transaction which, he noted, facilitates long-term sustainable financing for marine conservation without increasing the country’s debt burden.
In September 2022, the Government of Barbados partnered with the IDB and The Nature Conservancy (TNC) to refinance $146.5 million in debt, reducing interest costs from an average of 7.3 per cent to 4.9 per cent.
Hall explained that the deal saves the country approximately $50 million over 15 years, savings which will be directed toward conservation efforts through the Barbados Environmental Sustainability Fund (BESF) and a long-term endowment trust, ensuring financial resources for environmental initiatives.
“This type of instrument is impactful because it allows the government to invest in critical natural assets without increasing its debt stock,” Hall said.
“The reduced interest expense directly funds conservation, supporting initiatives like the Marine Spatial Plan, biodiversity protection, and climate resilience.”
To date, the MSP has conducted over 510 stakeholder interviews and engaged schools and communities through education drives and focus groups. The officials noted that the conservation commitments tied to the debt swap include zoning for biodiversity protection, approval of related legislation, and achieving targets under Barbados’ Nationally Determined Contribution (NDC) and national biodiversity strategies and action plans.
“The government has committed to protecting at least 10 per cent of its coastal and marine areas by 2030,” Hall said.
“The BESF will provide funding for NGOs, government agencies, and the private sector to advance these goals through a competitive and transparent grant programme.”
With a deadline set for 2027, the officials noted that the MSP aims to ensure sustainable management of the island’s ocean resources, with a focus on balancing economic needs and environmental protection.
(SM)
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