US$ 50 Million or EC$135 Million Secured For The Construction of
250 Rooms Hotel Development At Mount Wynne
St. Vincent and the Grenadines has secured a soft loan of US $50 million or EC$ 135 Million for Hotel Development at Mount Wynne on the West Coast of the main Island. The government secured this loan from Taiwan and will be for the construction of a 250 rooms branding an International Hotel name.
Prime Minister Gonsalves on Thursday 7th June 2018 said he was notified by the Taiwanese’s embassy here about the approval of a US 50 Million dollar loan.
The US $50 million or EC 135 Million dollars soft loan will go towards the construction of a 250-room hotel at Mount Wynne.
Gonsalves further noted that the government intends to build the hotel, however, it will engage a company with a global brand to market and manage it. (Really, and why is there no one in St. Vincent with that experience to operate and manage the operation)
In February of 2018, the Minister of finance Camilo Gonsalves stated that the Government intends to construct a state-owned, private-sector managed hotel or hotels to add 200 – 350 rooms to the current stock of high-quality tourist accommodation.
This model he said is common throughout the region, with the Barbados Hilton, Trinidad Marriott and Saint Kitts and Nevis Marriott being just a few of the many state-owned facilities that are managed by major international brands.
The questions are:
- How much has this loan added to the national debt?
- When will construction begin?
- How many citizens of St. Vincent will be employed during construction?
- Will there be any local companies involved in the construction?
- Will this be for political purposes only?
Do you have to show a party care for employment? I just want to know so I am asking the questions now and hopefully I will get some answers in the comments.
