IADB agrees COVID-19 and housing projects loans in Trinidad and Tobago
The Government of Trinidad and Tobago signed two loan agreements worth a total of $150 million with the Inter-American Development Bank to improve housing conditions, invest in urban transformation, and respond to the impact of COVID-19.
A $50 million investment loan will support the enhancement of living conditions for low-income households and invest in urban spaces as part of a strategy to foster more sustainable development.
The Urban Upgrading and Revitalization Program is expected to directly enhance the living conditions of at least 4,000 households, support urban renewal on both islands, utilize green-building technologies for utility savings and address the medium-term housing and urban development needs of the country.
The second loan is a policy-based loan valued at $100 million titled Programme to Strengthen Fiscal Policy and Management in Response to the Health and Economic Crisis Caused by COVID-19 In Trinidad and Tobago. This intervention will aid the government’s ongoing efforts by supporting their health response to the pandemic through additional hiring of health personnel and purchasing of medical equipment; strengthening fiscal policy measures to protect vulnerable households and increase liquidity for businesses; and promoting economic and fiscal recovery in the post-pandemic period.
