The Technical Assistance (TA) mission, conducted in Bridgeton, Barbados, from July 8 to 12, 2024, supported the Central Bank of Barbados (CBB) in the integration of climate risk analysis (CRA) into its banking stress testing framework, building on prior CARTAC technical assistance. It focused on identifying and using appropriate data sources, developing institutional expertise, and refining the climate risk component to assess financial sector resilience to climate-related physical risks. Continued collaboration with climate experts, increased use of granular and region specific data, and further development of economic linkages were highlighted as key priorities for enhancing the CRA framework.
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