Saint Lucia House Of Assembly To Meet

A Sitting of the House of Assembly is scheduled for Tuesday, February 13^th, 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• a service charge is payable at a rate of three-fourth of one per cent per annum on the Withdrawn Credit Balance;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.

2. 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 19^th, 2024 at 10:00 a.m.

 SOURCE: Parliament of Saint Lucia