Premier takes steps to get funds to upgrade infrastructure
Premier Dr Natalio Wheatley has indicated that he is already taking steps to get loans to fix the infrastructural issues the territory continues to face.
Premier Wheatley said he recently participated in consultations with the Caribbean Development Bank (CDB) and other Overseas Territories (OTs) in the Caribbean where they explained their need for funds despite being deemed as “high-income” countries.
Premier Wheatley explained that because of the categorisation as having “high GDP per capita”, the Virgin Islands is excluded from accessing official development assistance and concessionary financing, notwithstanding its heavy dependence on tourism and financial services, and its susceptibility to external threats.
Wheatley said the OTs emphasised the need for further engagement and involvement with the CDB, in light of their unique circumstances.
More resilience
The Premier said the framework that was formulated by OT Heads of Governments in conjunction with the Caribbean Development Bank, will ensure the Virgin Islands is more resilient to the challenges confronting the territory as it relates to accessing more avenues for financing.
“The Virgin Islands, like other OTs, is disproportionately susceptible to socio-economic and environmental challenges. Therefore, one of the primary objectives of the consultation was to explore viable options for obtaining funding towards achieving our development goals.”
According to a press release from the government, the forum also allowed for high-level dialogue on advancing stronger representation for Overseas Territories within the structure of the bank.
The CDB is now looking at ways to ensure that developmental strategies are employed to allow OTs to fully capitalise on the advantages of regional cooperation.
Discussions to continue in BVI
The discussions with the bank will continue, as the next meeting is set to be hosted by the BVI. At that meeting, OTs are expected to hold discussions on the bank’s capacity to further support the development agenda of the OTs.
Anguilla, Turks and Caicos as well as other Caribbean countries were represented at the meeting.
The consultations come amid increasing cries from residents who are tired of the failing public infrastructure such as roads, port facilities, internet infrastructure as well as water and electricity resources which have not received significant upgrades since the 2017 disasters.
The public has also complained that the government is spending funds in the wrong areas as public infrastructure continues to break down. The Premier has given the assurance that he will be borrowing to address the concerns which have been plaguing the territory.
Copyright 2024 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.
Please just start with doing what the Premier is elected to do!
Set the agenda. If infrastructure is a priority, focus the budget there!
Trying to get a loan somewhere they already turned you down is a waste of time.
Use the Tax Money and fix the roads. Make the sister island hospital operational (24 hour trama unit). Fix the electrical system. Fix the water pipes. Hire more teachers.
You are looking bad with these headlines! You make the entire country look bad
THIS DUDE AND HIS PARTY SQUANDERED MILLIONS AND MILLIONS….WHA DEM AINT THIEF THEY GIVE AWAY
Guess wha? All ah them failing ministries belongs to Kye
The UK is desperate for the BVI to increase taxes, and would like the BVI to borrow, borrow and borrow so that taxes have to go up even more. The hope is to get taxes as high as they are in the UK so that the BVI financial services industry collapses. The Uk is not happy that the BVI has a higher standard of living than the UK (not that it is very high in either place). Introducing a welfare state into the BVi, and keeping the majority of belongers in Govt employment (even with non jobs) will guarantee that high tax governments continue to be elected here because all the voters will be dependant on the Govt for money.
Hey Natalio,
Here are some ideas to fix your budget:
– Get the money from Skelton Cline back
– Don’t organize concerts that you cannot afford
– Get the money from your friends and family members back that “needed it so badly during covid even though they didn’t lose their jobs”
– Get the money from the barges back
– Get the money from the security contracts back
You need more ideas or do you still think corruption is not a problem under your government?
Ain’t no body in their right mind going to make a loan to Squander & Thief Inc. No body.
thought the country was not broke
No way UK will serve a loan with the latest audit report. A major ring of using funds to fund their personal pockets. Sorry but these people have to get votes out.
Sad, when you know what is truly behind a face.
Anything connected with this bank needs to be carefully examined.
One of the greatest reputations for corruption anywhere.
Just check the crazy rip off going on for the East German , sorry West End Tortola ferry terminal.
The British guaranteed loan would be better and way cheaper.
Where did you get your information? You really think the standard of living is better here than in the UK? There haven’t been any reports in the UK media of late of major problems with electricity and water supply, or major roads so bad that driving on them damages vehicles. It doesn’t seem like they burn their garbage in the open either, and sewerage systems are generally functional. Food is expensive everywhere but there is more variety there.
He cannot because he is inept. Tax payers dollars- is there any left?!? This is pure lip service we get every year in year out. Where is the Financial Crimea Unit (RVIPF), FIA and any other watchdog agencies/groups so deafeningly silent on this matter?
Who authorized these payments at all levels? The clerk of HOA conveniently says the applications that she requested were not returned. Why weren’t they scanned and or photocopied? Very convenient as family members received grants…go figure!
Great ideas, but sadly the piggy bank is empty. About 98% of nations worrldwide borrow money to fund major projects, but our creit history is shot. We were too proud (some might say obstinate) to take up on the UK’s offer post Irma. That ship has sailed. Interest rates are double now.
That same money you waste on NONE STOP party you cuda had now, BANG DEM JAH !