(iWitness News) St. Vincent and the Grenadines’ (SVG) debt under PetroCaribe as at May 15, 2017 stood at EC$190.3 million, Hans King, press secretary to Prime Minister Ralph Gonsalves said in a press statement on Tuesday.
He said the debt at Sept. 30, 2016 – EC$185.2 million – was published under the rubric “Disbursed Outstanding Debt” in the Estimates of Revenue and Expenditure for the year 2017.
“These Estimates were debated on, and approved by Parliament on Jan. 30, 2017,” King noted.
He said the largest portion of the EC$190.3 million owed to PetroCaribe as at May 15, 2015 is the EC$73.99 million owed by the stateowned International Airport Development Company (IADC) as part of the funds for the construction of the Argyle International Airport.
“The other major projects on which the PetroCaribe monies have been spent are: Accountant General (budgetary support); Border Security Management; EPassport System; Farmers’ Support Company (for softloans to farmers); Housing Reconstruction and Rehabilitation (Housing for the poor and Rebuilding after Natural Disasters); Distribution of Housing Materials for the Poor; Fight against Black Sigatoka Disease; Purchase and Retrofitting of Dee’s Services Building (for Electoral Office and Immigration Office); Purchase of Cuban Drug for patients for Diabetic Ulcers; Rehabilitation of Temporary Mental Health Centre at Orange Hill; SET Programme (Support for Employment/Training of College and University Graduates); Tourism promotion; Refleeting of LIAT (part of St. Vincent and the Grenadines’ contribution); Road Repairs; and Belle Isle Correctional Facility,” King said.