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CDB giving nearly $3M in loan, grants for cleanup

Premier and Minister of Finance Dr D Orlando Smith has announced that the Caribbean Development Bank (CDB) is lending the British Virgin Islands nearly $3 million for cleaning up the territory.

Dr Smith told members of the House of Assembly yesterday that $600,000 of the near-$3 million figure is being given as a grant for the three major weather events the territory experienced between August and September.

The BVI was rocked by a tropical wave in August and two category 5 hurricanes in September.

“The monies that were advanced from CDB were given because this is the amount that they have for emergency response. One is called The Emergency Relief Grant and that is $200,000 per event. There were three events, hence we got $600,000. The other is called Immediate Response Loan which was $2.25 million,” said Dr Smith who described the two million dollar sum as a soft loan.

The finance minister said he did not know how much the territory will have to repay the CDB for the loan.

“I would not have that figure at this time. If you wish to have it, I can get it,” Premier Smith said in response to questions from Opposition Leader Andrew Fahie about loan repayment.

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10 Comments

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  1. Bohica says:

    Well-loved. Like or Dislike: Thumb up 13 Thumb down 0

    Oh sweet Jesus, are these people going to be in charge of administering these funds as well? Have we learned nothing? $3million, might be able to secure another plane for BVI Airways……hold them accountable

  2. Scrutineer says:

    Well-loved. Like or Dislike: Thumb up 13 Thumb down 0

    Who in their right mind would take out a loan if they don’t know how much it will cost them? This is public money at play.
    Breading ground for loan sharks!

  3. Clean the hills says:

    Well-loved. Like or Dislike: Thumb up 6 Thumb down 0

    Will that cash go to cleaning the hills where tons of garbage is hiding in thick bush

    • Really! says:

      Hot debate. What do you think? Thumb up 6 Thumb down 7

      Overtime that debri will be rotted. Why waste time with that when there are more relevant areas to be dealt with.

      • Because says:

        Well-loved. Like or Dislike: Thumb up 5 Thumb down 0

        Because when the next hurricane comes and rusty debris flying all over the place, people will wonder where they came from and why they weren’t removed in the first place. Remember, one main reason for all problems faced during flooding, hurricane etc is the fact that rubbish was left to pile up in certain areas. Learning from past mistakes is so very important.

  4. Well sah says:

    Well-loved. Like or Dislike: Thumb up 10 Thumb down 0

    If the Leader of the Opposition didn’t asked about this then we would have never known that our government already got loans to deal with hurricane relief without approval from the senate/legislature. This action is ILLEGAL!!!

  5. Concern says:

    Well-loved. Like or Dislike: Thumb up 8 Thumb down 0

    I am concern with how the Premier is leading this country. He is going to get us in major trouble.

  6. hmmmmmmm says:

    Like or Dislike: Thumb up 1 Thumb down 0

    To be fair all the CDB projects thus far are of top quality and engineering. Look how all of their projects stood up to flooding and Hurricanes. I have no problems with CDB lending given their track records. The money grabbers cannot dole out CDB monies like they do money from Social Security and the public purse.

  7. Interesting says:

    Well-loved. Like or Dislike: Thumb up 4 Thumb down 0

    When a government needs to or is only allowed to borrow $3mil for cleanup, then you know something wrong.

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