The data obtained from these studies, as well as information from the Office of the Supervisor of Insurance, suggest that while several companies operate in conformity with the statutory requirements, there are too many cases, similar to the Jamaican example, where the prudential norms and regulatory requirements are flouted.
It is not well known that some years ago the IDB actually cancelled loans that had been approved for Barbados’ social and environmental infrastructure, because government failed to get the target projects underway, many years after the funding had been approved. This capacity for swift and efficient implementation of projects, while observing established procedures for accountability and disclosure, needs to be established and strengthened.