Gov’t seeking over $50M to continue recovery projects
With the $65 million Caribbean Development Bank loan for hurricane receovery projects almost exhausted, the government is looking to secure another loan within the same price range to continue its recovery.
Premier and Minister of Finance Dr Natalio Wheatley gave that indication in response to a question from the local media at a recent press conference.
“I don’t want to give the specific amount, but it will be upwards of $50 million,” Dr Wheatley said.
The Premier had long stated that most of the projects from the $65 million loan have already been entrained, ongoing or completed; hence, the governments need to get more funding to continue the recovery process post-Irma and Maria.
The Premier did not indicate where the government would be seeking the loan from but he had already disclosed that the £300 million loan guarantee offer from the United Kingdom to continue projects is not something that is on the table or one the government is considering further.
Dr Wheatley noted that the loan would not necessarily be from the United Kingdom, but the Virgin Islands certainly would need to have a conversation with the UK government on borrowing because there is an agreement between the territory and the UK and they must communicate as it relates to the BVI’s fiscal position.
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‘I don’t want to be specific’ seems to be this guy’s catchphrase!
So they have SSB spending ppl money ($20M), like it going to spoil, for the benefit of only 50 ppl in the country. Yet they have a real need for funds to benefit the entire country and can’t find it. Now they have to go out and borrowing again?? At a ridiculous interest rate! Why not borrow from SSB?? This is the kind of poor governance and abuse/misuse of the tax payers’ money that land dem big guts ppl way dey belang!!!
The 40 million that was blown on fake farmers and fake fishermen could have carried us a long way
So seeing that the Premier is finding the time to get monies to do this and that why isn’t he finding monies to pay the Civil Servants backup Increments don’t he think the Service is disgruntle with the treatment we are receiving let us be transparent and fair now and then we can all PROUDLY say THATS YOUR GOVERNMENT WORKING FOR YOU!!!!!!!!!!!!!!!!!
Oh My Lawd. After they figure out that weed ain’t going to pay, now Sl** Wande and the Unified A**Clowns have to find something to fill that gap and more. They so quick to say that millions coming from the weed and gambling and ain’t figure out the specifics. Now they hope 50 million going to fall from the sky
Campaign money…..hmmmm
Entire coast line was opened up and no one bothered to complete the project..
Are we ever going to get an accounting of what the $50 million CDB loan got spent on?
This is the time to drain the swamp of corruption and dirtyness. Manage the funds properly in the first place and we would not have to keep at this pace. They waste soo much money in the government!
I thought Weed and Black Jack were going to save the BVI? 2 years ago you could see/hear this same guy along with the head coach bragging about marijuana, casinos and how they will change the game in the BVI. Now look at us, once the envy of the Caribbean and are now being looked upon as big jokers. All of our Caribbean counterparts have proper airlift, resorts, roads and proper economic support for their people.
40 Mil to be exact! SMH
And the 8 Million for lawyers
let just throw away 40M to now have to borrow 50M cant make this stuff up. poppy show government.
ALL THEM GOVERNMENT MINISTERS , PAST AND CURRENT NEED TO GIVE BACK TO THE PURSE THAT GREEDY BILL MONEY. THEY ARE NOT PERFORMING FOR US THE PEOPLE TO BE ENTITLED TO A RAISE AND FRINGE BENNIFITS! PUT THAT MONEY TO IMPROVE THE COUNTRY!!
We really, really sucking at value for money. What the h**l did we do with the $65 million dollar loan? What
That loan guarantee from 207/18 aint looking so bad now is it?
One of the biggest blunders in this country’s governmental history.
Cayman accepted and used their loan guarantee with ease.
But the great and prosperous BVI did not, would not, or could not act on theirs. Out of +30,000 people less than 20 decided our fate in this.
Now we here going for SAP in the first half of the year and looking to go back again.