BVI News

Here’s the UK’s present position on giving money to BVI, other OTs

The UK government has once again reiterated the conditions under which it is willing to give economic support to its Overseas Territories (OTs).

This is a source of much debate among OTs that usually request financial assistance from the UK during times of disasters.

In the 2020 communique, published at the end of this year’s Joint Ministerial Council meeting for OTs, the UK government said it expects OTs to be financially independent as much as possible as it will only offer financial aid in circumstances where it is proven that OTs cannot help themselves.

“In times of crisis, the UK stands ready to support the Overseas Territories, as happened following the hurricanes in 2017 and during the COVID-19 crisis. As a first step, the UK will look to the Overseas Territories to make full use of their financial resources to address their needs and will consider further requests for financial support on a case-by-case basis,” the statement read.

The UK government said while it recognises OTs are small and open-island economies that are vulnerable to external shocks, governments must manage public funds wisely to make the economy resilient in times of disasters.

“Clear economic development plans, underpinned by strong public financial management, can help to create diverse and resilient economies in which people, businesses and governments can look ahead to the future with confidence,” the communique read.

The UK also promises to help OTs increase their economic resilience through technical support and encouraging best practice in financial management. Additionally, the UK government said it will consult the Overseas Territories on support programme for next financial year.

Elected representatives in the BVI have expressed that they face difficulty when seeking financial assistance from the UK government. 

These complaints worsened after hurricanes Irma and Maria when the UK government said the BVI was too rich to get money from its aid budget. The UK government also brought up the lack of transparency and allegations of misuse of public funds when the BVI government sought aid after the 2017 hurricanes. 

However, the UK did pressure the Organisation for Economic Co-operation and Development (OECD) to give the BVI loans which it didn’t originally qualify for.

The UK stood as a guarantor for these loans but asked the BVI government to set up the Recovery Development Agency (RDA) to manage these funds in order to prevent the misuse of funds and lack of transparency which has dogged successive BVI governments for years. 

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23 Comments

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  1. Spirit says:

    What flag is shown at the top of this article? Is that a variation on the BVI flag? I have never seen that.

  2. What says:

    What the UKs position is in simple terms is that you are not getting any money that will be taken and squandered by corrupt and criminal politicians. Also, making decisions to keep tourists out and not developing new sources of income due to the diminishing financial sector. Cannabis Mr. Foy, is not viable. Real development of tourism and an inviting structure for people to come live and work is. Thus, based upon this the BVI will not be getting any financial assistance.

    Like 31
    Dislike 5
    • Truth Sayer says:

      @What: You are on point with your observation. We cannot blame the UK for asking that we show financial responsibility in order for them to render assistance. Our leaders have been very poor in this area. For instance, they have taken $40 million of the people’s money from Social Security and have used it for political gain in many instances. Only some persons affiliated to the politicians in certain districts have benefited and some individual families have gotten up to 40 thousand dollars. Can that be right and just? Some businesses especially the small ones have not received one red cent from the stimulus. THE USE OF THE SOCIAL SECURITY MONEY TAKEN BY THE GOVERNMENT NEEDS AN URGENT AUDIT. THE PEOPLE NEED TO KNOW HOW THEIR MONEY WAS SPENT. The UK is right not to assist unless our leaders show financial responsibility!

      Like 9
      Dislike 1
    • To what says:

      People like you fall for this UK public relation games. The UK is not giving out a dime to no one. The most they do is want to give out Loan guarentees where it is not needed because the OTs can get the money without the rope tied around their necks for a Loan guarentee when it is not needed.

      Like 1
      Dislike 3
  3. Earl says:

    I don’t think any of these requests from the UK are unreasonable…. the BVI has to stop squandering its money recklessly!

    Like 39
    Dislike 2
  4. WTF says:

    It’s almost like they want the country to learn to stand on its own two feet in order to attain independence… Say it ain’t so… That’s not what CSC has been telling us. It sounds like they’re saying they’re there to help if we really need it, but we should learn to fend for ourselves. Isn’t that what the BVI wants? Independence?

    Like 19
    Dislike 2
  5. Leroy says:

    these oppressors can never be trusted with with you Andrew Fahie

    Like 3
    Dislike 14
  6. Don’t says:

    Don’t give these corrupt racists a single $

    Like 6
    Dislike 6
    • Anonymous says:

      As long as the Black keeps his mind and eyes closed, be subserviently weak, and always be a puppet and slave like with no knowledge of himself and the world’s history, he is alright.

      As soon as he demonstrates that he is waking up, seeing and speaking truth, he becomes a RACIST to the originator and practitioner of RACISM.

      What an irony. Yet, some are still too foolish to recognize reverse psychology.

  7. Chosen says:

    They want the money to squander on their Friends and their family after the want the exparts to pay back for it.

    Like 11
    Dislike 3
  8. No need says:

    BVI is much wealthier per person than the U.K. Doesn’t seem fair that people paying 40% tax in the U.K. should support people who pay under 10% tax in BVI.
    Pay the same rates of tax here as in the U.K. and there would be plenty of emergency money!

    Like 15
    Dislike 1
  9. Just my 2 cents says:

    The UK’s position is very clear. They will assist financially but not in any way to facilitate squandering of their aid. Can they be blame? Hell no! Too much corruption have overshadowed the trust and confidence in the BVI’s administration.

    The unfortunate reality and irony is that the UK has demonstrated its willingness to assist for example after the rains of August 2017, the BVI was unwilling to accept. Most recently the assistance with the military vessel. Rejected again.

    Why reject? So that cronies can get something from the coffers? Sad but now that there is a great need, the government should not be dissatisfied that the money not coming freely as they want…the irony of self pride.

    Like 21
    Dislike 1
  10. Theo says:

    The unfortunate reality is that the corrupt in the BVI made it bad for everyone else in the BVI.

    But they’ll be fine whilst everyone else gets to eat dirt.

    Like 1
    Dislike 1
  11. Anon says:

    I guess the uk is courrouption Free

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