Parliament approves $154 million Supplementary Bill

Parliament has approved a second Supplementary Estimates Bill for 2024 for just over $154 million, which will be used for the continuation of two major development projects in St Vincent and

the Grenadines (SVG).

In July this year, Parliament also passed Supplementary Estimates 2024, in the sum of EC$ 136.4 million to address immediate relief and recovery efforts in St Vincent and the Grenadines, following the passage of Hurricane Beryl on July 1.

Minister of Finance, Camillo Gonsalves tabled the motion for Supplementary Estimates 11 in Parliament on Tuesday, October 29, 2024. He explained in his presentation of the measure that Supplementary Estimates 11 seeks to sanction payments from the Consolidated Fund for the two projects- completion of the Port Modernization Project; and for the start of construction of the Acute Care Hospital to be built at Arnos Vale.

The ground breaking ceremony for the hospital took place on Saturday, October 26, 2024.

Just over $100 million of the money will go to the Ministry of Urban Development for use in the Port Modernization Project. Minister Gonsalves explained that the remaining $54 million will be put to the Ministry of Finance for the Strengthening Health System Resilience Project, under which the new hospital falls. The Finance Minister also said that the money in Supplementary Estimates 11, is to provide for the timely payment to contractors on these two critical developmental projects.

Funding for the port project is being provided through the Caribbean Development Bank, the government of Taiwan and the UK Caribbean Infrastructure Partnership Fund.

In relation to the ongoing Port Modernization Project, minister Gonsalves told Parliament on Tuesday that, “this Supplementary Estimate is saying that the contractor is moving ahead quickly with some of the more expensive components of the work, and that some of the monies scheduled to be spent next year, will be spent this year instead”.