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News from the Caribbean as of
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Trinidad Government plans continued borrowing from the IDB
Friday, September 8, 2006
by Stephen Cummings
Caribbean Net News Trinidad Correspondent
Email: stephen@caribbeannetnews.com
PORT OF SPAIN, Trinidad: Despite what government says is at the moment a buoyant Trinidad and Tobago economy, there will still be the need to seek financial assistance from financial agencies such as the Inter-American Development Bank (IDB) to further the country's development.
This was revealed by Trinidad and Tobago Minister of Planning and Development, Camille Robison-Regis, following a meeting on Thursday with President of the IDB, Luis Moreno, at the Port of Spain Crowne Plaza Hotel.
The meeting was held to discuss organizational and structural changes taking place in the Bank to achieve improved alignment with borrowing members such as Trinidad and Tobago. The country now has a financial portofolio of over US$400 million dollars with the IDB.
Robison-Regis added that private sector development was also part of ongoing discussions with the Bank and that the government will also seek extension borrowing to finance a number of projects that are not yet completed such as in education and public sector reform.
Mereno, who is in Trinidad to take part in a Caribbean Conference on Energy, during his meeting with Minister Robinson-Regis said the IDB plans additional support for the country.
He said Trinidad and Tobago has and continues to play a major role as an energy and oil supplier in the region for which continued support must be given.
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