PetroCaribe and ALBA are helpful to the Caribbean

21.AUG.09

Editor: The helpfulness of PetroCaribe and ALBA to our Caribbean is clear to all, except the foolish and unpatriotic. Last week’s announcement that ALBA, through President Chavez, has agreed to help Antigua and Barbuda with a soft loan/grant of US $50 million was very welcome news to that country and other member-countries of the Eastern Caribbean Currency Union.{{more}}

In SVG, PetroCaribe and ALBA (PetroCaribe is part of ALBA) are helping us very much. I heard our Prime Minister list some of the benefits last week, including the US $18 million Fuel Storage Facility at Lowmans Bay; the multi-million dollar help for the Argyle International Airport; the 50 university scholarships, so far, worth millions of dollars; the EC $9 million assistance to the Low-Income/No Income Housing Project; the EC $5.8 million help to Sustainable Livelihoods in Agriculture; the EC $5.4 million to help fight poverty through the Social Investment Fund (SIF) and the Central Government; and the promise of much more, including soft-loan monies for the private sector from the ALBA Bank; the provision of cheaper fuel and cooking gas ($29 for a 22-pound cylinder of cooking gas as against $35 for a 20-pound cylinder from SOL or Texaco); and savings under PetroCaribe ($18 million turned over to the Argyle Airport Project last week).

This is what Mr. Arnhim Eustace and the NDP want to unsign. Sir James Mitchell, a sensible man, said last year he would be part of PetroCaribe if he was in power. Keep the PetroCaribe and ALBA dollars and help coming to SVG, Comrade Ralph.

Adrian Dennie