Turning to the announcements for Tobago, within the 2019 mid-year budget review, Finance Minister Colm Imbert approved the Tobago House of Assembly’s request to apply for a $300 million loan. The Minister said;
“I intend to get approval in the very near future for the Tobago House of Assembly to raise loans in the local market with a sum of $300 million for a number of development projects including health and sporting facilities, housing, road and bridges, coastal protection and the THA’s innovative intelligent island.”
Out of the $1.84 billion dollars to supplement the 2019 national budget, Minister Imbert stated $85.7 million will be for payment for daily paid workers attached to the sea-bridge as well as the charter-hire of the Jean De La Vallette vessel. He also announced that plans for the new airport terminal are well underway.
“The Andean development bank of Latin America is providing technical assistance for the project and the main terminal is being constructed by a design finance build contractor and associated works by sub contractors with public financing. Construction work is scheduled to begin in December 2019 with practical competition by early 2021.”
The Finance Minister, however, made no announcements where compensation for the compulsory and acquisition process is concerned.
