stluciatimes, caribbean, caribbeannews, stlucia, saintlucia, stlucianews, saintlucianews, stluciatimesnews, saintluciatimes, stlucianewsonline, saintlucianewsonline, st lucia news online, stlucia news online, loop news, loopnewsbarbados

Saint Lucia House Of Assembly To Meet

A Sitting of the House of Assembly is scheduled for Tuesday, February 13th, 2024 with Papers to be laid by the Honourable Prime Minister and Minister for Finance, Economic Development, Youth Economy, Justice and National Security, the Honourable Deputy Prime Minister and Minister for Tourism, Investment, Creative Industries, Culture and Information, the Honourable Minister for Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs and the Honourable Senior Minister and Minister for Infrastructure, Ports, Transport, Physical Development and Urban Renewal

The Motions for consideration are as follows:

1. BE IT RESOLVED that Parliament authorizes the Minister for Finance an amount of 11,500,000 Special Drawing Rights (in this Resolution referred to as “the Credit”) (the loan) from the International Development Association to finance the Organisation of Eastern Caribbean States Skills and Innovation Project;

 BE IT FURTHER RESOLVED that — 

  • the Maximum Commitment Charge Rate payable is one half of one per cent per annum on the unwithdrawn balance;
  • a service charge is payable at a rate of three-fourth of one per cent per annum on the Withdrawn Credit Balance;
  • principal amount of the Credit is repayable on the 1st day of April and the 1st day of of October in each year;
  • the principal amount of the Credit is repayable over a period of forty years with a grace period of ten years.
  1. BE IT RESOLVED that Parliament authorizes the Minister of Finance to borrow an amount of USD42,700,000.00 from the Bank’s Ordinary Capital Resources for the Recovery and Resilience-Building Policy-Based Loan;

 BE IT FURTHER RESOLVED that —

  • the loan is repayable in forty-eight equal or approximately equal and consecutive quarterly installments;
  • the loan payments commence on the 1st day of January, the 1st day of April, the 1st day of July and the 1st day of October of each year after a grace period of two years following the date of the loan or such later date as the Bank specifies in writing;
  • interest is payable at a rate of four point nine per cent (4.9%) per annum on the amount of the principal disbursed and outstanding;
  • a commitment fee is payable at a rate of one per cent per annum on the amount of the loan disbursed.

 BE IT RESOLVED that Parliament authorizes the Minister of Finance to borrow an amount of USD2,343,908.00 (the loan) from the CARICOM Development Fund to finance the implementation of the Community Tourism Programme;

BE IT FURTHER RESOLVED that — 

  • the loan is repayable in twelve years commencing from the date of disbursement of the loan inclusive of a grace period of two years;
  • the loan is repayable in forty equal or approximately equal and consecutive quarterly instalments on the 30th day of March, the 30th day of June, the 30th day of September and the 30th day of December of each year over ten years

after the expiration of two years following the date of disbursement of the loan;

  • interest is payable at a rate of three per cent per annum.

The following Bill is down for consideration:

1.Climate Change

 Tuesday’s Sitting is scheduled to commence at 10:00a.m.

 The Sitting of the Senate is scheduled for Monday, February 19th, 2024 at 10:00 a.m.

 SOURCE: Parliament of Saint Lucia

 

Any third-party or user posts, comments, replies, and third-party entries published on the St. Lucia Times website (https://stluciatimes.com) in no way convey the thoughts, sentiments or intents of St. Lucia Times, the author of any said article or post, the website, or the business. St. Lucia Times is not responsible or liable for, and does not endorse, any comments or replies posted by users and third parties, and especially the content therein and whether it is accurate. St. Lucia Times reserves the right to remove, screen, edit, or reinstate content posted by third parties on this website or any other online platform owned by St. Lucia Times (this includes the said user posts, comments, replies, and third-party entries) at our sole discretion for any reason or no reason, and without notice to you, or any user. For example, we may remove a comment or reply if we believe it violates any part of the St. Lucia Criminal Code, particularly section 313 which pertains to the offence of Libel. Except as required by law, we have no obligation to retain or provide you with copies of any content you as a user may post, or any other post or reply made by any third-party on this website or any other online platform owned by St. Lucia Times. All third-parties and users agree that this is a public forum, and we do not guarantee any confidentiality with respect to any content you as a user may post, or any other post or reply made by any third-party on this website. Any posts made and information disclosed by you is at your own risk.

3 COMMENTS

  1. Borrow, Borrow, Borrow!
    Another $100+ million on the backs of the taxpayer and future generations!
    And you know it just goes into the consolidated fund to cover for the incompetence of this Government.
    No roads – $400 every few months to fix a car, a murder every 4 days, no jobs, high cost of living – not even a can of tuna we can afford! Airport a mess and falling behind in quality compared to the other islands in the Eastern Caribbean. Yet we borrowing another $100+ million for these incompetents to spend.
    Woy Woy St. Lucia!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

TRENDING

Subscribe to our St. Lucia Times Newsletter

Get our headlines emailed to you every day.

Share via
Send this to a friend