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Vote of Confidence by CBC

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September 24, 1998 - St. Lucia=s Prime Minister the Hon. Dr. Kenny Anthony has attributed the opening of a new branch of the Caribbean Banking Corporation in the southern town of Vieux fort, as an expression of confidence in the local economy.

Addressing businessmen and investors at the opening ceremony late Wednesday, Dr. Anthony lauded the efforts of CBC, which in its five-year history on the island had grown considerably to include three outlets.

AI believe there is every reason to be confident. We have seen several activities over the past year that testify to that. The Fisheries project is underway costing $44 million dollars, which means that a substantial sum of money will be invested in the area. There is a also the Free Trade Zone and a number of public sector projects like a new police and fire station, all expected to start within this financial year,@ Dr. Anthony said.

CBC, the Prime Minister noted, had also responded positively in assisting the Vieux Fort Community.

Managing Director of the Caribbean Banking Corporation Amrit Sinanan says the Vieux Fort outlet will provide a wide range of services comparable to those in the capital Castries. He says the bank is very concerned about giving back to the community. AIn the case of Vieux Fort, we have only just begun our journey and already we have received, considered and agreed to a significant contribution towards the upgrading of the Vieux Fort playing field. I am very pleased to announce that our bank has agreed to pledge $40,000 towards this ambitious project.@

Sinanan added, AWe have been advised that to date we are the only commercial bank on the island to make a commitment for a significant contribution in spite of our five month presence in Vieux Fort. Naturally we would like to see this project completed for the benefit of residents in the Vieux Fort area and we encourage members of the business community to support what is certainly a very worthwhile project.@

CBC has also invested 11. 9 million dollars into government=s Short Term Employment Project, 50 million dollars into the new Prison complex and some 30 million US dollars into the Hyatt Regency Hotel.

 

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