The British Virgin Islands has met the end-of-September deadline issued by the United Kingdom to present its blueprint on the way forward for its recovery and development, Premier Andrew Fahie has said.
The deadline mentioned above was one of the decisions coming from the recent BVI\UK discourse on the UK’s loan guarantee offer for the recovery effort.
“I am extremely pleased to report that despite having to deal with two approaching storms within that two-week period, your government has met the September 27 deadline,” Premier Fahie said via a statement on September 30.
He said the Cabinet of the Virgin Islands was able to approve a revised ‘Recovery to Development Plan of the Virgin Islands 2019-2023.’
This, he explained, would serve as the framework to guide the territory’s recovery to development. He cited having residents benefit as a ‘guiding objective’.
More about the action plan
The leader of government business also said a revised version of the recovery plan that details the various recovery and development projects would also be laid out in the House of Assembly for approval.
He pointed out that the undertaking was created with the sole purpose of putting residents first.
“We are optimistic that the revised framework will significantly increase the opportunities for you to more actively participate in and benefit from the economic activity that will flow from the recovery to development programme,” Fahie said.
He continued: “The plan will serve as an excellent foundation and launching pad for the longer-term National Sustainable Development Planning process now being commenced with the support of the United Nations Economic Commission for Latin America and the Caribbean. Continuing along the vein of participatory Government, Virgin Islanders will also have an opportunity to contribute to this process for shaping the future vision and development of this territory.”
People will reap rewards
Meanwhile, Fahie said residents of the territory will reap considerable benefits from this strategy.
He said: “Once the ‘People’s Plan’ is accepted by the UK Government, BVI contractors and service providers will have better prospects in securing business opportunities. This will result in more jobs for you the people, which will allow you to provide for the needs of your families; to provide roofs over heads and food on tables.”
The Premier further said it would increase citizens’ earning and spending power, which will benefit other local businesses such as supermarkets, clothing stores, food vendors, restaurants and bars, vehicle dealers, hardware, construction workers, commercial banks, among other things.
The commercial activity, he reasoned, would in turn, benefit the local economy to diversify and become more resilient.
In the meantime, the Premier explained that the Cabinet has also went a step further and created a Borrowing and a Steering Committee.
With these committees in place, Premier Fahie said the aforesaid framework would be further strengthened and greater value for money will be realized.
“Might I add that the revised Recovery to Development Plan provides the road map for getting the job done timely, transparently and within budget? We will inform the public very shortly on how the plan will be financed,” he said.
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