SVG

PM confident about raising US$80 million for airport

A view of the terminal building under construction at the Argyle international airport (Photo: Facebook).

A view of the terminal building under construction at the Argyle international airport (Photo: Facebook).

KINGSTOWN, St. Vincent, Feb. 6, IWN – The government says it is confident it will this year raise the US$80 million needed to complete the international airport at Argyle.

The EC$652 million airport is scheduled to be completed this year and become operations by mid 2014.

Prime Minister Dr Ralph Gonsalves told a press conference Monday that he held talks with the Venezuelan government during his trip overseas last week and it seems that the application for a US$10 loan “is progressing well”.

“And I raised the issue of their own involvement … not just to provide loans but as an equity partner in the Argyle international airport and they are sending a team either this week or early next week for us to have that discussion,” Gonsalves said.

“And that will be part and parcel of the exercise of raising the $80 million which we require … which I am pretty sure we will raise this year for the completion of the airport,” he further said.

The government is also selling state land to help build the airport and Gonsalves said he anticipates that more lands will be sold this year.

“… we have made the arrangement in at least one important case already for the sale of some more land from which we expect to get some more monies this year.”

He also said more money is expected from PetroCaribe, the pact between oil-rich Venezuela and some Caribbean and Latin American governments.

“We have two loans application with two international financial institution for support monies and, of course, we have applications to governments and state institutions of those governments, including the government of Venezuela,” Gonsalves further said.

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Discussion

One thought on “PM confident about raising US$80 million for airport

  1. Will vincentians allow Gonsalves to let Venezuela become share holder in the airport? I think its is better for SVG to just continue borrowing and pay back when the harvest is ready. How many other Govt properties Gonsalves already handed over to share holders? Does, the national bank, marketing board and public works have already forgotten by vincentian so easily? As much as SVG needs that Airport, no one need to face extreme hardship for progress to be made. It is evident that the low income citizen cannot face any more increase in taxes. Folks may soon have to start living in their garages and rent their homes to handle the frequently increase in taxes and other commodities incurred by Gonsalves.
    PROf- Dasilva Foreign and local.
    (Wisdom is more than being able to read and write and is more than silver or gold)

    Posted by Danniel8 | February 15, 2013, 21:41

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