Premier and Minister of Finance, Honourable Andrew A. Fahie will be discussing the conditions of the loan guarantee, among other areas at a meeting with the UK government this week.

Honourable Fahie is leading a delegation of officials to the meeting and topping the list of issues on the agenda is the re-negotiation of the conditions attached to the UK Government’s offer of its guarantee for loans to finance the Territory’s recovery from the devastating 2017 hurricanes and other developmental projects.

The Premier stated, “As we go off to the UK to redefine the conditions surrounding the loan guarantee, the principles that the people of the BVI must be economically empowered, and Cabinet must steward the outcome of the procurement, with all loan funding going to the consolidated fund or a special fund to be set up with criteria to be met before transferring to the Recovery Development Agency.”

Premier Fahie said, “Consistent with my personal commitment and that of your government, this issue has been opened up for public consultation, so that you, the people whose everyday lives will be affected by this decision, could make your voices heard.”

He added, “Your government extended itself to provide you with a wide spectrum of information, analyses and recommendations that has been offered to us on this subject, as well as the real and potential pros, cons and risks of this offer, so that you have the benefit of viewing the issue from more than one perspective.”