Taiwan To Lend St Lucia US$100M For Airport Redevelopment

(SNO) — Taiwan has agreed to lend Saint Lucia US$100-million for the redevelopment of Hewanorra International Airport, Prime Minister Allen Chastanet has revealed.

The Prime Minister addressed the Saint Lucia Chamber of Commerce last week Thursday where he touched on a variety of areas including infrastructure, health care, education and economic development.

“We have come to an agreement with the Taiwanese Government who have agreed to lend us 100 million US dollars to be able to do that project,” he stated, adding that the loan is being supported by the airport development charge.

Additionally, he stated $50-million will be borrowed from Taiwan for major upgrades of existing roads island-wide.

According to Chastanent, the road rehabilitation charge on gasoline will also be used to service that loan.

Chastanet said key indicators in the Saint Lucian economy have been “encouraging,” point out that tourism continues to show signs of growth and consumption and economic activity is on the rise.

1 Comment

  1. HOW MUCH OF THIS MONEY WILL ACTUALLY BE USED TO COMPLETE OR UPGRADE THE PROJECTS MENTION. If history is any guide , at the end of the day, you will have more millionaires than the little can accommodate. Lets see what happen

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