Tuesday, March 19, 2024

NIS funds going to build hotel

Date:

Share post:

Every cent of the $60 million to be invested by the National Insurance Scheme (NIS) in the Four Seasons project will be used to construct the luxury hotel.
Furthermore, Professor Avinash Persaud, who is heading efforts to restart the stalled project, insisted that Barbados’ debt to gross domestic product (GDP) would not be affected in any way by the NIS investment in the hotel and villa project.
Persaud made these statements on state-owned Caribbean Broadcasting Corporation yesterday as he responded to public concerns about Government’s involvement in the West Coast entity.
“The NIS money – the bond, will be going to building the Four Seasons hotel,” he stressed.
Read the full story in today’s DAILY NATION.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

PM announces 15 strategies to grow economy

15 Strategies to grow the economy as announced by Prime Minister Mia Amor Mottley in the 2024/25 Financial...

PM: Barbados’ economy on the right track

Prime Minister Mia Amor Mottley says the Barbados economy is on the right trajectory. Delivering the 2024/25 Financial Statement...

Road fatality on East Coast Road

Police are on the scene of a road fatality that occurred on East Coast Road, St. Andrew about...

No new taxes

There will be no new taxes in the 2024/25 Financial Statement and Budgetary Proposals. That was one of the...