Govt Authorised To Borrow $135M For Hotel At Mt Wynne

mt wynne, peters hope

Parliament on Wednesday 19th December 2018 passed a bill which will allowed the government to secure a loan of EC 135 Million in financing the construction of a hotel in Mt Wynne/Peters Hope.

Following vigorous debate between opposition and government all members at about 6.20 pm voted in favor of allowing government to secure the loan.

Prime Minister Gonsalves on Thursday 7th June 2018 said he was notified by the Taiwanese embassy here about the approval of a US 50-Million-dollar loan.

The US $50 million or EC 135 Million dollars soft loan will go towards the construction of a 250-room hotel at Mount Wynne.

In February of 2018, the Minister of finance Camilo Gonsalves stated that the Government intends to construct a state-owned, private-sector managed hotel or hotels to add 200 – 350 rooms to the current stock of high-quality tourist accommodation.

This model he said is common throughout the region, with the Barbados Hilton, Trinidad Marriott and Saint Kitts and Nevis Marriott being just a few of the many state-owned facilities that are managed by major international brands.

The house has been suspended until 10am on Thursday 20th December 2018.