Prime Minister Dr Hon. Ralph Gonsalves announced that St. Vincent and the Grenadines will host a LIAT’s shareholder Governments meeting with the management of the Caribbean Development Bank (CDB) on Friday, January 5th, 2018 in Kingstown to chart the way forward for the airline.
Prime Minister Gonsalves is Chairman of the Shareholder governments of LIAT and made this announcement at a recent press conference on Tuesday, January 2nd, 2018, at Cabinet Room.
The LIAT meeting will include LIAT management, consultants, and representatives from shareholder Governments.
As Chairman of the LIAT Shareholder governments, Dr Gonsalves disclosed that a loan of US $7 million to LIAT was recently finalized.
According to Dr Gonsalves, the loan is divided among shareholder Governments as follows: 35% or $2.44 million US will be to Antiqua and Barbuda; 53% or $3.72 million US for Barbados, and 12% or $840 000 US or over $2 million EC to this country.
Dominica is also a shareholder government, Dr Gonsalves explained, however in light of their circumstances they were not asked to contribute towards the loan.
Dr Gonsalves stated that the LIAT team wants to “take the necessary steps so that we can have the requisite reforms or further reformers in LIAT.”