Prime Minister, Dr. Ralph Gonsalves is currently in Venezuela meeting with representatives of the ALBA Bank and finalizing some initiatives and arrangements under the Petro Caribe agreement.

Earlier this year, a number of agreements made under the agreement including a commitment for 40,000 sacks of Urea for St Vincent and the Grenadines (SVG), as well as shipments of oil.

On Saturday, October 22, the MV Inmaculada arrived at the PetroCaribe dock at Lowmans Bay with 15 thousand barrels of oil for the St. Vincent Electricity Services (VINLEC).

Other arrangements under the PetroCaribe agreement include $5 million for the redevelopment of Little Tokyo, of which $2.5 million is being given in the interim to begin the work.

Speaking with the Agency for Public Information (API) Gonsalves said “We don’t need all the money one time so we are pitching for 2.5 of it now so we can start, we can put it in the budget for 2023.”

There is also a commitment of US$4 million soft loan for a fishing fleet programme which will deal with long line fishing, of which the Government will be getting $2 million.

The Prime Minister indicated that Minister of Agriculture and Fisheries,, Saboto Ceasar is dealing specifically with that.

Gonsalves said while in Venezuela, he will also deal with the delay of 150 pre-fab houses.

“The plant which was producing these, they have a capacity problem, so I am going to look at ways…if there’s anything we can refashion”.

The Prime Minister will also receive an honorary doctorate from the Bolivarian University of Venezuela while in that South American country (API).