BVI News

Projects piling but funding slow: CDB withholds $$ till govt spends old $15M

Premier and Minister of Finance Dr D Orlando Smith

It has been about a year since the Caribbean Development Bank (CDB) gave the BVI government access to 15 million of the $65 million loan for territorial rehabilitation and reconstruction. But, while public infrastructures remain in ruins, only about $5 million of that amount has been spent towards the rehabilitation effort, so far.

The concern now is that the CDB — based on policy — has said it will not release any more money from that $65 million loan until government spends at least 80 percent of that first $15 million portion.

The CDB, in the meantime, has collected nearly half-million in loan interest payments from the BVI, even though they are the main cause of the delay in the territory’s recovery, Premier Dr D Orlando Smith told the House of Assembly on Thursday.

“The CDB process is quite involved and quite prolonged and it took many months before the process could be completed to have some of these monies spent. It was not anticipated that the process would take that long … this is the reason why more monies have not been spent,” Premier Smith said.

Gov’t partly to be blamed

But, based on the Premier’s explanation, government is also to be blamed for some of the delays.

According to Dr Smith, a number of rehabilitation projects are still being planned.

“We are at a point now where, I think, all the projects have been prioritised and are in the advanced stage of planning, so I expect the monies will be spent very quickly on the projects that have been identified,” the Premier said.

The remaining two-thirds of the available $15 million will be used for works toward the territory’s water distribution network, repairing government buildings, purchasing equipment for the Department of Disaster Management, reconstruction of road slopes and coastal defence, and restoration of the West End Ferry Terminal.

“Many of those things have already been planned. Some already have contracts that are almost ready to go,” Dr Smith told the House of Assembly while answering questions from Opposition Leader Andrew Fahie.

Monies spent so far used to pay consultants

Of the $5 million spent so far, Premier Smith said most of that amount was spent on procuring consultancy services.

Fahie has expressed general disappointment in the Premier’s report to the House.

“[For] the $464,116.99 that the taxpayers have had to pay back in [loan] interest [so far], they have received absolutely no tangible benefits other than the consultancies,” he said.

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19 Comments

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  1. Wowww says:

    I just wan NDP out. I don’t care for the new NDP under Myron neither NDP 2…

    I & many’s I know backing the VIP

    Like 8
    Dislike 2
  2. Hmm says:

    Up to yet they can’t fix roads, I’m sick if the NDP.

    Like 8
    Dislike 2
    • High school Wall says:

      Has anyone heard the news.?.. Myron, NDP leader is under local police investigation for money lost on the school wall. Mr big mouth has met his match in the governor.

      I am waiting for his public statement, but he seems really quite for the first time. Hmmm..

      Now rvip is all on his movement and he has no where to hide. He will or might join his colleagues at ballo. And not as head of prisons but as inmate.. hahahaha

      Like 3
      Dislike 2
  3. Mark says:

    The premier needs to stop lying. They are just waiting until the ninth hour to spend the money because they know elections are right around the corner. Once they keep everyone working just with all the projects at one time before the elections then everyone will forget. They played this hand the last time and they won so they know it works.

    Like 9
    Dislike 1
    • @Mark says:

      So that’s an indictment on the Premier or the voters? Read your post again and tell me even if this is their plan, how are they to blame?

      Like 2
      Dislike 4
  4. Way it goes says:

    Lots of money for Au—-d and the C—–s being set up just before election.

  5. You spend 6hundred tousand you remember and nothing happyn so what says:

    Liberty

  6. ndp heckler says:

    The NDP has got to go…..Sick ah dem now

  7. BuzzBvi says:

    They were probably saving it for the airport.

    Remember what happened to the money for sewerage.

    It went to pay the unexplained extra money needed for people that needed to be paid when the Pier Park was built.

    Lots of people will need to be paid with lots of money for the airport.

    We still don’t know how the $7 Million for the aeroplane was shared out.

    • @buzz bvi says:

      A few local persons, politicians included were paid large sums of money for “consultations” with the airplane ordeal. Of that 7.2 mil, millions of it were shared out to local people. This so shameful.

    • Ask the T****** Chairman says:

      RH was a big part of the airplane scam put he @ss on blast and let he answer to the people !! and the money his department raised from fundraiser that they don’t want to talk about…where are all the donated funds gone?? T

  8. In tears says:

    This whole think about consultancy is one big scam. It is just a cover up to the kick backs these officials receive. You pay all that money for someone to tell you what, and still when they do nothing happens. I’m so sick of this nonsense all them filling their pockets and don’t even have that heart to say enough is enough let’s look after the country now. Just greed and more greed. Come on man please put country first.

    • Sick of Consultants says:

      Their contracts are ridiculous, apart from the kickbacks every consultancy firm or consultant brought in is grossly overpaid. Then the recommendations just sit there or the consultant leaves with no continuity plan in place.

      Tourist Board just now bringing a consultant AGAIN like they don’t have staff to do the work or it don’t have BVIslanders and Belongers need work!

      They could employ 3 people with the money they going give that consultant!

  9. more consultants says:

    That’s all they do is spend money on consultants. I hear the Tourism office is re-hiring one of its old consultants…again! Had he all over the islands this week looking a big pay to do what their staff should be doing.

    all NDP do is hire consultants- sick

  10. Political Observer (PO) says:

    Purely abject failure. The government has demonstrated gross negligence and ineptness in exercising effective financial resource stewardship, enacting vital policies, preserving the environment, preparing for emergencies (hurricane), growing and stabilizing the economy, developing a First World infrastructure (roads, electricity, water, sewage, ports, telecommunications), improving quality of life services, arresting crime, reducing the cost of living, expanding and improving affordable and accessible medical care, upgrading education……..etc.

    Now, the ineptness has expanded to poor execution of capital projects with a $65M loan from the CDB. To be fair, the silver lining in the dark gathering clouds was the government building of the reserve fund.

    Nevertheless, it is time for a general election. Dr. Hon Premier D. Orlando Smith needs to dissolve the HOA, set an election date and let the poor suffering electorate vote for a new government of its choice to change course and chart a new path for the territory. There is no upside to waiting until 16 April 2019. Leh we do dis ting !

  11. SMH says:

    No Clarity! No Accountability! What is wrong with these people that were elected to represent the People of this Territory? I’m so ashamed to having looked up to the Docs as outstanding citizens. As for the others, never believe or trust their attitude towards the middle class citizens.

  12. Resident says:

    stop wasting money on consultants and fix the place its shameful to have tourists coming to visit this dump we call our country

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