The Government of St. Vincent and the Grenadines will be seeking to raise 125-million dollars to finance the Public Sector Investment programs. In order to facilitate this, the Public Sector Investment Loan Bill was passed in Parliament on Monday.
In presenting the Bill, Minister of Finance Hon. Camillo Gonsalves said the Bill seeks to authorize the Government to raise funds to assist in financing the Public Sector Investment Programs.
Minister Gonsalves said that in recent years the Government has been seeking financing between 100 and 150 million dollars.
“So bringing it early now lets us schedule, time and structure our forays into the regional securities market in a more optimal manner and buys us a critical month or two in starting our capital works program early in the year.
And in a year madam speaker, honourable members, when tourism revenues are certain to be reduced, a robust construction sector will be critical to regaining and sustaining economic momentum in 2021.” The Finance Minister said.