The Board of Directors of the Caribbean Development Bank (CDB), on Thursday, approved funding for the modernisation of Kingstown port in St. Vincent.
This project is the first of a two-phase programme and includes the construction of a new cargo port, and associated roadworks to improve access and traffic flow.
“Modernisation of the Kingstown Port is an important component of the government’s vision for transforming St. Vincent and the Grenadines into a modern, competitive, private-sector led economy,” Monica La Bennett, CDB vice-president (Operations), said.
La Bennett added: “CDB’s investment in the St. Vincent port modernisation will boost the efficiency of cargo services; revitalise Kingstown; and enhance the business environment; while expanding employment opportunities and reducing poverty.”
The project is being funded by a US$110 million loan from CDB; a 25.6 million pound sterling (about USD32 million) grant from the CDB-administered United Kingdom Infrastructure Fund, and a US$43 million contribution from the Government of St. Vincent and the Grenadines.
“The United Kingdom is pleased that the Kingstown Port modernisation project will deliver economic growth, while supporting improved livelihoods, poverty reduction and safer conditions for citizens, which is the goal of the United Kingdom Caribbean Infrastructure Fund,” said Resident British Commissioner to St. Vincent and the Grenadines, Steve Moore.
The project will build a structurally safe working environment at the Kingstown Port, which is currently operating well beyond its design life and has structural defects.
Accompanying roadworks will also improve traffic circulation around the central business district of Kingstown.
People affected by the planned construction will be consulted and compensated, the CDB said in a press release.
Residents and fisherfolk in Rose Place and vendors in Little Tokyo will be offered relocation to safer and more climate-resilient areas. Affected persons will also have access to skills training to improve their social and economic situation, the press release said.
In the next phase of the port modernisation, an intra-regional cargo terminal and an inter-island ferry terminal will be built.
” Dog returning back to his own Vomit”
Colony, and Colonization, these was used in the negative by the mighty One.., Get rid of the Colony , Get rid of the Queen, get of the Commenwealth, but when it suit him politically, “Jonny is a mighty good fella”
So England is a very good country today, ,don’t use her for your electioneering.
It seems that you have no morals when election is around the corner, ” I am just a big pretender” “Beware” this just the beginning.
My to cents
I feel you but we have to take it where we can we get it. It won’t make up for the blood sweat and tears but it is what it is
The sentiments of this change are great! There are some big mistakes that will not change however. The municipal building that contains the offices of top government departments should not have bee built there. What a waste of prime Real Estate. What about the ugly Coreas warehouses? In most of the world’s beautiful tourist destinations there is a quiet promenade area for people to walk and look at the harbour. Not here! “Government First” People last.
Here is what the British think of our constant begging! There may be plans afoot to scrap their Department for International Development (Dfid) which has faced frequent criticism up there.
The department “Controls most of Britain’s £14billion aid budget and was set up by Labour in 1997”
As Boris Johnson has argued that its budget’s “cash might be better targeted if managed by Foreign Office”.
https://www.dailymail.co.uk/news/article-7778499/Tories-planning-AXE-14billion-foreign-aid-department-Boris-Johnson-wins-election.html
Boris Johnson’s Party “The Tory manifesto commits the Conservatives to keeping the controversial target of spending 0.7 per cent of Britain’s income on aid while also doing more ‘to help countries receiving aid become self-sufficient’.” That would no doubt involve their encouraging SVG to become self-sufficient and stop our constant and incessant begging for Aid.
With (US$110 million) in LOAN from the CDB and (USD $32 million) in GRANT from the CDB-administered United Kingdom, who shall we be begging for that remaining (US$43 million) and above all, who in SVG or abroad will be the richer in the Bank by the end of all this?
I wonder who?
James H . is this a loan or begging ??? IF implemented and executed so you see any positive or negative fiscal policy impact on SVG ………..HAHAHA
progress just burn sum ah uno LOL
THESE ARE WORKING MINDS BEHIND THESE VENTURES AND NOT LIKE THE LAZY AND INCOMPETENT NDP.
I agree that the objectives of this mega-project are good but how will it really materialize? There is so much that needs to be done in SVG as far as infrastructure and economic policy and much much more. Did they put real sidewalks into the plan or will everyone have to walk in the road like 90% of SVG? If there are sidewalks will vendors be allowed to clog it all up so everyone that has somewhere to go is again compelled to walk in the road?
I would not want to become Prime Minister of SVG because the entire country and system needs to be restructured so that things will actually work with efficiently and for the benefit of all. That task would take decades unless it is done in an authoritarian manner, which ends up not being too much fun.
Is this project going through or is it just another election carrot on a stick? Has there been an environmental impact assessment already done? Normally the “plan” cannot become a plan until that is done.
if the board of directors approved funding Duke I would hope to believe that there has been considerable planning already done .
I thought there was going to be a deep water Port for cargo /Containers and deep draft vessels at Arnos Vale.
An Iter island Ferry Service could share a more Modern Cruise ship Area with containers and cargo moved to Arnos vale.
This is a good move. I hope that this plan comes to fruition. You gotta start somewhere if you want to get anywhere.
As Vincentians AL, there was once a time when industriousness and studious uprightness were to be valued here in SVG, over and above extensive undignified begging! But such respectable and decent values have now given way to a profound pride in gross begging under the ULP’s leadership, the Ralph Gonsalves family regime.
I was heartened by this comment in a recent post here by: “BAHAMARED”
https://www.iwnsvg.com/2019/12/10/barbados-pm-wants-acp-to-focus-on-vulnerability-index/
Quote: “The culture of victimhood is what keeps black countries down. Get over it. Nobody owes you anything. As a Bahamian I am proud to be too successful as a country to qualify for aid”.
However AL the trouble with you ULP sycophants, is that by far all of you are so dunce that the fat man and his family knows how to manipulate the bunch of you with slogans that you just do not understand.
You just regurgitate the like of such like caged parrots, oblivious to their meaning. Such terms like “Infrastructure Spending” and “Fiscal Policy impact” are mere words to the dunces that the ULP so loves to groom and make fools of here.
Dear AL, no one is against good infrastructure spending whether done through borrowings or through savings, provided that the same when seen in the round, the books are indeed balanced. However, with the ULP in charge of SVG’s finances, we have never been able to earn enough to justify the much needed necessary borrowings, in order to keep our spending right and our economy afloat. We thus must keep on begging the world over.
We are not Cubans nor Venezuelans AL but were once proud Vincentians but the kind of policies being pursued by the Gonsalves family regime for their own ends, went out of fashioned with the death of the old Soviet Union, because such just did not work.
They just do not work at all, hence our continual begging the world over! Even to the Brits that the ULP and its supporters so loves to ridicule. On top of which SVG is now so grossly burdened with excessively high taxes we are drowning under the weight.
Look you fool, without the BRITISH GRANT AID of (USD $32 million) it is doubtful whether the Securitization of the proposed project would even be possible.
James H. your incoherent rant CANNOT STOP PROGRESS OF SVG
I have every reasons to believe that a deal of some kind, was made to get this funding.
What are the circumstances of the deal making, if any, and what are the MORAL and ETHICAL consequences to our nation’;s future.
Our legal system is being reviewed and examined by an organization/trust with the agenda to impose IMMORALITY upon us, against our will. GOD SAVE US ALL!!!
What are the real economic benefits of having this new port?
Why do we need this port?
There are so many activities that are happening right under the noses of our people that we fail and or refuse to see. that are against our interest as a people.
Where is the official opposition in SVG on the pressing issues of our nation?
Ricardo Francis, Prime Minister of St.Vincent and the Grenadines, In waiting and in the Making.