Caribbean Development Bank approves US $9.3 million loan to support Anguilla’s reform programme

BRIDGETOWN, Barbados--The Board of Directors of the Caribbean Development Bank (CDB) said Thursday that it has approved a US $9.3 million loan to the government of Anguilla, to implement a reform programme that aims to restore fiscal sustainability and enhance resilience against natural disasters.
Anguilla is highly vulnerable to natural disasters, and since 1995, the island has been affected by eight named hurricanes. Following the passage of Hurricane Irma in 2017, it suffered damage and losses that were estimated at approximately 97 per cent of gross domestic product (GDP). The country is also heavily reliant on tourism, and the effects from Hurricane Irma have led to the closure of hotels and restaurants, causing significant unemployment and income losses.
The loan from CDB is the first of a series of three proposed policy-based loans, which will support Anguilla’s three-year reform programme to restore fiscal stability and build resilience, in order to promote and sustain economic recovery and growth. This first loan supports initial reforms under the government’s Medium-Term Economic and Fiscal Plan.
“This policy-based loan, which is the first of three, will fill the government’s fiscal gap and provide immediate liquidity needed to help shore-up the island’s finances, mitigate shocks to expenditure such as the fiscal implications of Hurricane Irma and assist with building longer-term fiscal resilience,” said Dr. Justin Ram, Director of Economics at the CDB.
Under the area of restoring fiscal stability, the funds provided will be used to help Anguilla strengthen its macroeconomic planning framework post-Hurricane Irma; enhance revenue collection; and improve expenditure and debt management.
To build resilience, the intervention will support reforms by strengthening policy, governance and institutional arrangements for environmental management towards increased climate change resilience; as well as enhancing institutional capacity for social protection.
Prior to the approval of this loan, in the aftermath of Hurricane Irma, the government of Anguilla received financial support from CDB, including an Emergency Relief Grant of US $200,000 and a loan of US $5 million to assist in the restoration of electricity. Earlier in 2018, CDB provided loan financing of US $5.6 million to help the government meet its debt obligations and focus on its recovery priorities, without having to divert resources to meet financing needs.

Assessment of health risks due to dump fires starts on Jan. 21

PHILIPSBURG--A team from Dutch National Institute for Public Health and Environment RIVM will carry out a two-week assessment of the potential health risks for the community in relation to dump fires starting January 21.

Minister-president Rutte en staatssecretaris Knops naar Bonaire, Curaçao en Aruba

Minister-president Rutte en staatssecretaris Knops (Binnenlandse Zaken en Koninkrijksrelaties) bezoeken zondag 20 tot en met dinsdag 22 januari Bonaire, Curaçao en Aruba. Het bezoek staat in het teken van economische samenwerking en rechtshandhaving. 

Dock Maarten vindt geen gehoor bij overheid met klacht over Bobby's Marina

PHILIPSBURG - Het jarenlange geschil tussen Dock Maarten, Bobby's Marina en de overheid loopt nog steeds.