US$60 million for Four Seasons approved

Government has approved the US $60 million (BDS $120 million) required to get the Four Seasons project restarted.According to well-placed sources, Cabinet approved the funding last week, and an official announcement is expected soon.A body representing stakeholders in the resort had asked Government to guarantee the repayment of a US$60 million in return for a 20 per cent stake in the project and “special rights”.Construction was halted in February last year, with access to funds listed as the main problem. (GE)