Turks and Caicos, May 25th 2017: Premier Sharlene Robinson is not yet willing to disclose what TCIG will borrow from the Caribbean Development Bank, but she says the plan is to get only what is needed.
“At what point do we believe as a country we will determine how much we want to borrow?”
“We will determine that by the beginning of next year. Once we would have finished the vision and the medium-term strategy, we look at implementation and we determine that based on where we are. What we are doing is a whole lot of ground work, seeing exactly which is more critical and then determining what we will borrow and what we will finance through our regular budget.”
The CDB says the Turks and Caicos is qualified to borrow up to $100M and Premier Robinson says the idea and amount for the loan will first have to pass through the House of Assembly for approval; both will be determined next year. The premier says currently government is working on its medium-term goals and based on the level of ground work completed will determine how much will be borrowed and what can be financed through its regular budget.
The CDB loan to come in 2018 will be put to use for sea defences and housing.
“We’re looking yes at linking the islands, but we’re looking at housing, it’s important if we’re going to be addressing the illegal squatting communities that we provide opportunities for persons to own homes and to actually improve our housing stock.”
The Premier explained in a one on one with Magnetic Media that the plan is to create opportunities for residents to own homes. Other areas she says they intend to tackle, include education and the construction of another Early Childhood Development Centre.
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