CDB, LIAT to hold meeting today

A meeting between LIAT and the Caribbean Development Bank (CDB) will be held here in St Vincent and the Grenadines (SVG) today.

During a press conference on Tuesday, Prime Minister Dr Ralph Gonsalves said the president of the CDB and his team will meet with the chair of LIAT shareholders Prime Minister Dr Ralph Gonsalves and LIAT’s management to discuss the reformation of LIAT.

“I want from very early this year, to take the necessary steps, so we can make requisite reforms, or further reforms in LIAT,” said Gonsalves.

The Prime Minister stated that Antigua and Barbuda, Barbados and SVG have finalized a US $7 million loan, intended to offset the revenues lost when some LIAT flights were halted as a result of devastation in some islands from category 5 hurricanes last year.

He explained that Dominica, also a LIAT shareholder, was not asked to contribute, because of their current economic circumstances in the aftermath of the hurricane.

Of the US$7 million loan, SVG is charged with paying 12 per cent or US$840,000. Antigua and Barbuda will pay 35 per cent and Barbados 53 per cent.(CB)