CDB Approves Loan for Study to Inform Facilities Upgrade at Grantley Adams International Airport

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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 small and medium enterprises (SMEs) in particular. The loan of USD357,200 was approved by the Board of Directors of the CDB to the Government of Barbados for the study which will be undertaken by Grantley Adams International Airport Incorporated (GAIA Inc.), operators of GAIA. Among the outcomes of the study will be: 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. "Investments in improved logistics and supply chain management can help maximize opportunities that exist for improvement in the productivity of the transportation system. Trade logistics in Barbados require institutional reform and investment in infrastructure in order to improve efficiency in the processing goods and services in trade. The development of modern air cargo facilitation will be critical in achieving this goal," said CDB's Vice-President (Operations), Dr. Carla Barnett, following the meeting on Thursday, March 13, 2014. The GAIA is Barbados' only international airport. According to data published by the GAIA Inc, in 2013 it loaded 8.2mn tonnes of cargo and unloaded 12.1mn 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 USD139mn in loans and USD28.4mn in grants from the Basic Needs Trust Fund. CAPTION: Grantley Adams International Airport,Barbados

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