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NIS funds going to build hotel

Geralyn Edward

NIS funds going to build hotel

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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.