Cabinet Approves Loan for Coastal Protection Study

Turks and Caicos, July 24, 2017 – Providenciales –  A technical assistance loan of $441,000 was approved by Cabinet this week to begin the feasibility study for coastal protection on the islands of Grand Turk, Salt Cay and Providenciales.

According to a post Cabinet statement issued on Thursday (July 20) Acting Governor Anya Williams, who chaired the meeting, approved the loan from the Caribbean Development Bank (CDB) and a grant of $50,000 from the European Investment Bank.

The $50,000 grant complements the CDB’s loan for consultancy services to conduct the feasibility study and prepare designs for climate resilient coastal protection.

The loan agreement with the CDB will be forwarded to the House of Assembly for approval, according to the statement.

The feasibility study and designs will include a shoreline management plan to protect the Islands’ coastlines using climate-resilient approaches.

The project is expected to receive counterpart funding of $289,000 from TCI Government.

The provision of the loans and grant came directly on the heels of the CDB’s recently concluded 47th annual flagship event held in the Turks and Caicos Islands in May.

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