BVI News

Int’l banks to back recovery, says Premier

From left: Minister for Health and Social Development, Ronnie Skelton; Premier Dr D Orlando Smith; CDB President, Warren Smith and CDB Vice President, Monica La Bennett.

Coming out of a high-level meeting with the World Bank and the Caribbean Development Bank (CDB) at the weekend, Premier D Orlando Smith said recovery efforts for the territory is now backed by the financial institutions.

Dr Smith, who is also Minister of Finance, gave news of the banks’ support in a media release this afternoon.

“We had very productive discussions on the ways in which reconstruction can be financed, both short and long-term. I am pleased we have the full-support of the CDB”, the Premier said.

The finance minister stated that the banks are also interested in rebuilding local structures to withstand future ‘extreme weather events’ such as hurricanes Irma and Maria.

Those hurricanes caused widespread destruction in the BVI and other countries in the region last month.

“Our objective is to become a model of resilience in the region and a centre of excellence in infrastructure. This will not only make us more resilient, but also more attractive as a tourism destination and international business centre,” Dr Smith said.

Minister of Health and Social Security, Ronnie Skelton, as well as Director of the BVI London Office, Benito Wheatley, also attended the meeting which was held it Washington DC.

The meetings were held as part of the annual World Bank/International Monetary Fund meetings.

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