News
TCI Mortgage Corporation established as Community Projects put on the back burner
Deandrea Hamilton
Editor
#TurksandCaicos, March 26, 2024 – The Turks and Caicos now has a Mortgage Corporation Fund, established through an act of parliament on Monday March 25 to the tune of $7 million dollars and aimed at promoting and encouraging more home ownership in the Turks and Caicos Islands.
While the notion of the Fund was embraced by representatives in the House of Assembly, there was vocal resistance to where the monies to prop up the Fund were pulled from; 12 community projects which failed to materialize during this fiscal year have now been scrapped, at least for now.
“The PNP government is doing the right thing for the wrong reasons,” said Edwin Astwood, Leader of the Opposition, in response to our question about his party’s support of the Fund.
“They have no policy, no plan, no guidelines, no terms of reference, nothing for the establishment of this.”
It took the passage of a fourth Budget Supplementary, which re-allocated the monies from the Ministry of Physical Planning and Infrastructure Development. Listed in the Supplementary Appropriation papers as “projects to be re-assessed and re-appropriated” were the $1.5 million enhancement and restoration of Conch Ground in South Caicos; $2.7 million for the construction of a Community Center in Bottle Creek, North Caicos; $800,000 for the Bambarra Beach huts renovation in Middle Caicos; $650,000 for upgrade to the Bight Park in Providenciales; $550,000 refurbishment of the Horse Stable Beach complex, in North Caicos; $550,000 renovation of the Fuller and Clementina Walkin Park in Blue Hills, Providenciales; $250,000 refurbishment of the Sylvia Melhado
Aged Care Center and a combined $365,000 for four vehicles, specifically a vehicle for the Health Promotions and Advocacy Unit; a bus for the Immigration Department and two wheelchair accessible vans; one of them for the SNAP Center in Provo and the other for the Eliza Basden Aged Care Center in South Caicos.
“I did not support it,” said Astwood, explaining that, “to purchase a wheelchair accessible van should not take 365 days and have to be brought back. That was one of the 12, total adding up to some $7M.”
With mere days to go in the 2023-2024 fiscal period, the PNP Administration laid its fourth Budget Supplementary which was not adding to national spending, it was shifting millions of unspent dollars around before the sun completely sets on the Budget Year on Sunday March 31.
The aim of the Mortgage Fund is frustrate the unhealthy, excessive cost of housing as the Turks and Caicos faces a crisis when it comes to demand for affordable housing. A significant barrier to addressing this very serious concern, as the Turks and Caicos economy experiences exponential growth is funding.
During the July 2023 launch of the National Housing Policy, it was announced that a survey found too many residents were paying in excess of 50 percent of their income on housing, 21 percent were residing in homes which were in need of repair and nearly 70 percent were looking to buy their own homes within the next five years.
But there is little hope of affordable financing for home purchases or home renovations; banks were criticised at the event during a Q&A period for unfriendly lending terms.
With the cost of living considerably higher in the Turks and Caicos Islands, the banking representative explained that among the considerations at play was the salaries of public sector workers, in particular.
Minimum wage and public sector salaries have now been raised by the Government and this newest Budget Supplementary has given money to jump start the corporation, which now makes up part of the National Wealth Fund.
“The Fund shall consist of the Stabilisation Fund; Infrastructure and Competitiveness Fund; Heritage Fund and Mortgage Corporation Fund.”
The Department of Housing, last July had informed that 32 percent of survey participants wanted the Government to get involved; hoping for benevolence which would turn home ownership dreams to reality.
CAPTION:
Bambarra Beach Huts in January 2021, before a fire ravaged the cute, colourful vendor stalls in April the following year. Budgeting for development of the site is again delayed, even as Bambarra in Middle Caicos, Turks and Caicos Islands has now captured the title of #2 Best Beach in the Caribbean in USA Today’s 10 Best Reader’s Choice awards. PHOTO BY TCI TOURIST BOARD.
PRESS RELEASE
FROM THE
MINISTRY OF PUBLIC SAFETY & UTILITIES
May 8th, 2024 – The Caribbean Renewable Energy Forum (CREF) 2024 concluded last week in Miami, marking another milestone in advancing the region’s energy agenda. This year’s forum, held from April 24-27, at the JW Marquis Hotel in downtown Miami, attracted some of the most distinguished names and advocates in the field of renewable energy.
The delegation from The Turks and Caicos Islands led by Hon. Kyle Knowles of the Ministry of Public Safety and Utilities included Permanent Secretary Mrs. Bridgette Newman, Energy and Utilities Commissioner Mr. Delano R. Arthur, Energy Analyst Dr. Eric F. Salamanca, Senior Legal Drafter Ms. Priscilla Paquette, and Executive Administrator Ms. Jasmine Malcolm.
Hon. Knowles was among the high-caliber panelists in the session called “Caribbean Leadership: Delivering on the Vision” where he highlighted the policy directions of TCI government towards transitioning to renewable energy. Hon. Knowles served as a panelist, discussing the transformative strategies required to integrate renewable technologies across the Inland territory, Turks and Caicos Islands (a UK Overseas Territory Caribbean). His insights on policy enhancements and infrastructural development were met with high interest and acclaim, underscoring his pivotal role in shaping the energy landscape.
Commissioner Delano R. Arthur, a key transformative leader in the energy sector, presented a compelling paper titled “Renewable Energy and Resource Bill for the Turks and Caicos Islands.” His presentation highlighted the legal framework for transition
to renewable energy, interconnection agreement, licensing among others. He also emphasizes the use of mature commercial technology, rather than emerging technologies that have not been proven in commercial scale. He also presented an approach to overcoming logistical and financial challenges in TCI. Com. Arthur’s pragmatic and innovative solutions offered a visionary perspective that resonated with the attendees.
Dr. Salamanca, and Atty. Paquette, also contributed to a roundtable discussion on Regulatory Framework led by the Caribbean Development Banks’ Mr. Joseph Williams and Mr. William Hinds, each bringing unique viewpoints and solutions to the challenges facing the TCI energy sector.
The attendance at year’s CREF also provided opportunity to establish networks. Among the most notable side event meeting was with the Caribbean Development Bank (CDB) where the TCI delegates discussed various projects in support of transition to green/renewable energy in the Turks and Caicos Island.
Commenting on his first CREF, the Hon Minister noted, “I am pleased to have had the opportunity to participate in the
Caribbean Renewable Energy Forum (CREF) held in Miami, Florida. The Forum provided a valuable platform for discussions on the advancement of renewable energy solutions in the Caribbean region.
During the event, I engaged with key stakeholders, industry experts and government officials to exchange ideas on strategies to promote sustainable energy development. Renewable energy plays a crucial role in enhancing energy security, reducing greenhouse gas emissions and fostering economic growth in our region.
He concluded, “I am committed to working collaboratively with partners both regionally and globally to further renewable energy initiatives and accelerate the transition to a more sustainable energy future. Our participation in events such as CREF our underscores our dedication to advancing clean energy solutions and building a more resilient and sustainable energy landscape for the benefit of our citizens.”
Rashaed Esson
Staff Writer
May 8th, 2024 – After millions of people took the AstraZeneca vaccine as their choice of vaccination during the COVID-19 pandemic, the organization announced on March 5, that it is withdrawing its vaccines from the market worldwide, effective as of May 7 as it was reported to cause side effects.
It is said 170 countries received doses of AstraZeneca; it was expected 35.3 million doses would be shared with 36 Caribbean and Latin
American countries through the COVAX program, according to PAHO.
First reported by the Telegraph, the side effects are identified as blood clots and low blood platelet counts. In fact, the medical issues have reportedly been linked to 81 confirmed deaths in the UK alone. Many others are suffering some other medical injury due to the vaccine popularized as an answer to the then new virus.
AstraZeneca is also being sued by more than 45 affected people.
The vaccine, known as Vaxzevria, the Telegraph informs, can no longer be used in the European Union and it will be the same for other countries and the UK in the coming months. Over 17 million doses made it into EU countries.
Reports say AstraZeneca made the revelations of the side effects in court documents, adding that the withdrawal of their vaccine is also due to a decrease in demand.
Photo Caption: Public Health Nurse, Patricia Coates (left), administers Daniel Adams’ first dose of the AstraZeneca coronavirus (COVID-19) vaccine, during the second COVID-19 Vaccination Blitz at the National Arena in St. Andrew, on Saturday (April 3).
JIS photo from 2021.
News
DTR AND DECR HOST STAKEHOLDERS MEETING WITH INSURANCE COMPANIES TO IMPROVE COVERAGE FOR JETSKI OPERATORS
PRESS RELEASE
FROM THE DEPARTMENT OF TOURISM REGULATIONS AND THE DEPARTMENT OF ENVIRONMENTAL AND COASTAL RESOURCES
Providenciales, Turks and Caicos Islands, 8th May 2024 – The Department of Tourism Regulations aims to bridge the gap between insurance companies and water sports operators struggling to acquire adequate business insurance. The goal is to create a robust and sustainable tourism product that ensures safety and reliability for all stakeholders. On April 30, 2024, the DTR hosted a meeting with four insurance companies to address concerns regarding liability risks, enhance coverage options, and explore avenues
to bolster safety measures through comprehensive insurance provisions
The meeting involved key representatives from prominent insurance companies, namely from ‘NW Hamilton’: Elianise Rigby and Jewel Ewing; ‘JS Johnson’: Queen Been; ‘CSC Insurance’: Alicia Palmer; and GK Insurance: Marie Beckford. Government officials present from DTR: Director Avi Adams, Deputy Director Talia Thomas, Regulation Development Specialist Sasha Arthur, Quality Assurance Officer Donessia Gardiner, Communication Officer Alique Harvey, and DECR’s Deputy Director Jatavia Howell, as well as Experience Turks and Caicos representative Strategic Development Manager Courtney Robinson, to develop tailored solutions that meet the unique needs of Jetski operators within the local tourism landscape.
Currently, insurance options for Jetski owners in the Turks and Caicos Islands are limited, posing challenges for operators and regulators. Through collaborative efforts with insurance providers, the DTR is committed to expanding coverage options and streamlining insurance processes to promote compliance and enhance safety standards across the industry.
“The Department of Tourism regulations is in charge of ensuring that the tourism product of the Turks and Caicos Islands is robust and sustainable. Upon setting regulations, we realize that some companies, local companies struggle with obtaining insurance,” said Avi Adams, Director at the Department of Tourism Regulations. “Our department, along with the DECR and the TCIG at large, is on a mission to bridge that gap to ensure that local vendors can obtain the insurance that is needed to offer a tourism product that can be
safe and reliable, while also helping to mitigate some of the risks that insurance companies may have challenges with.”
Remarking on the proceedings of the meeting, Queen Been of J.S Johnson Insurance said “I am grateful to the Department of Tourism regulations in the TCI for hosting a timely, informative presentation on enacting laws for best practices for water sports and other tourism businesses. This will be of interest to all stakeholders, and the safety of our guests. Thank you for the opportunity to attend and lend my voice to encourage responsible management of our tourism product by all.”
The meeting outcome will inform the DTR’s ongoing efforts to implement regulatory measures that prioritize safety without stifling the growth of recreational activities vital to the local tourism sector. Through continued collaboration with stakeholders, the department remains steadfast in its commitment to fulfilling its promises and fostering a climate of trust, transparency, and accountability within the industry.
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