July 25, 2014
Prince to sign World Bank agreement on behalf of SVG

Ambassador La Ceila Prince, Permanent Representative to the Organisation of American States (OAS) and Ambassador to Washington is expected to sign a World Bank agreement on behalf of this country very soon.{{more}}

Prime Minister Dr Ralph Gonsalves announced at a media briefing last week, that he received a response from the World Bank earlier this month indicating that it was ready to sign the grant and all other agreements with this country. He said a letter was being prepared to authorise Ambassador Prince to sign on this country’s behalf at the World Bank headquarters.

The agreement will be in the sum of USD 40.6 million or over EC$100 million and will be made up of three components; the first will be credit from the International Development Association (IDA) soft monies equivalent to USD16.6 million; the second is an IDA credit from the crisis response window amounting to USD19 million US and the third a grant totaling USD5 million from the climate investment funds pilot programme for climate resilience under the strategic climate change fund.