CDB approves loan for study to inform facilities upgrade at Grantley Adams International Airport
The Government of Barbados will be exploring the best approach to improving cargo facilities at the Grantley Adams International Airport. Through a loan from the Caribbean Development Bank (CDB), an extensive study will be conducted to assess the current and future needs, and the type of infrastructure that will best create a world class facility. Such an upgrade will result in improved international competitiveness and multiple benefits to SMEs in particular.
- A gap analysis of the existing operations/physical infrastructure and proposed operations/infrastructure required to accommodate forecasted cargo opportunities and facility demand.
- Security considerations to applicable international standards, for both operations and physical infrastructure
- Developing and presenting physical development options, including but not limited to recommendations as to the type of operation(s) (optimal mix and layout of floor space) that should be provided for each of the proposed options.
The GAIA is Barbados’ only international airport. According to data published by the GAIA Inc, in 2013 it loaded 8.2 million tonnes of cargo and unloaded 12.1 million tonnes.
CDB’s Country Strategy Paper 2010-13, Barbados identified the high cost of doing business as a major issue affecting the international competitiveness of local businesses. Small businesses are especially vulnerable to high cost structures and the services industry is dominated by time-defined international transactions. Improved air cargo operations enhance the opportunity to leverage logistics and supply change management to enhance trade facilitation.
The Bank focuses on helping to build a more resilient, sustainable and secure Caribbean through funding and technical support. In 2013, CDB approved 139 million in loans and 28.4 million in grants from the Basic Needs Trust Fund.