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Contact:
George Jude
Tuesday, November 02, 2004 - The Saint Lucia House of Assembly met today,
November 2, 2004, and authorises the borrowing of US$12.7M for development work.
This was contained in three motions, which were considered. These are:
- To authorise the Minister for Finance to borrow the sum of US$3.7 million
from the International Bank for Reconstruction and Development for the purpose
of refinancing the Second Disaster Management Project;
- To authorise the Minister for Finance to borrow the sum of US$3.2 million
from the International Bank for Reconstruction and Development for the purpose
of refinancing the HIV/AIDS Prevention and Control Project; and
- To authorise the Minister of Finance to issue a 5-year Fixed Rate Bond at
an interest rate of 5.75% through First Caribbean International Bank (Barbados)
Limited for the purpose of refinancing the US$6.0 million Floating Rate Note
held with Citibank (Trinidad and Tobago) Limited to pay off WASCO’s debts
assumed by the Government.
Two bills were considered. These are the Caribbean Court of Justice
(Agreement) (Amendment), Government Corporations, and Motor Vehicle and Road
Traffic (Amendment).
Among the Papers laid were the Annual Report of the National Telecommunications
Regulatory Commission for the period October 2002 to September 2003, and the
Report of the Operations of the Saint Lucia National Housing Corporation
Corporation for the financial year April 2003 to March 2004.
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