Prime Minister Dr. Ralph Gonsalves says the Government is making significant progress in discussions with representatives from the World Bank, to repurpose a sixty-three million U.S Dollars loan which will now be used for Hurricane Beryl recovery.
This comes as the World Bank Group recently conducted a scoping mission to assess the damage caused by Hurricane Beryl in St Vincent and the Grenadines.
The August 5th to 9th mission was a critical step toward the implementation of the 63 million U.S Dollars Beryl Emergency Recovery Loan (ERL) project, aimed at supporting the nation’s recovery efforts.
Prime Minister Gonsalves says an additional thirty million U.S Dollar loan from the OPEC Fund for International Development (OFID) is expected to be added to the loan from the World Bank, to be used as part of the Hurricane Beryl recovery.
According to the Prime Minister, while the 63 million dollar loan was originally earmarked for the Acute Hospital at Arnos Vale, the Government received another from Taiwan for this project and the World Bank has agreed for their loan to be used for post Beryl Recovery.
The Government has also approached the OPEC Fund for International Development (OFID) for the thirty million U.S Dollar loan from them to be used for Housing.
