Grenada poised for economic lift

Monday, May 19, 2014 3:57 PM - George's, Grenada
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ST. GEORGE’S, GRENADA, May 19, 204 – GIS: Prime Minister Dr. Keith Mitchell says that Grenada is now poised for an impressive economic takeoff – sixteen months after his New National Party (NNP) government inherited a run-down and dilapidated country.

A confident and bubbly Prime Minister Mitchell made the disclosure at the start of the second round of Government’s Open Constituency Forum in St. Andrew’s Southwest.

The second round of the People’s Parliament, as the sessions are called, was off to a rousing start with over 200 residents jamming into Gordon’s Bar in Munich for the two-hour session, which was lively and informative.

Prime Minister Mitchell, in his opening remarks, said that his government has been hard at work, cleaning up the messy situation created by the National Democratic Congress' (NDC) Government.

PM Mitchell informed that the key players in the process – the World Bank, the International Monetary Fund (IMF), the Caribbean Development Bank (CDB) the European Union and friendly countries including the United Kingdom, Germany and Canada – are impressed with the measures being undertaken by the government to revive the country.

After meeting, last week, with government and other stakeholders, Dr. Mitchell indicated that the international community is happy with the strides accomplished.

The Prime Minister is expecting financial support in excess of US$50 million, to start within a matter of weeks. “I expect US$10 million from the Caribbean Development Bank, US$10 million from the World Bank, the IMF starts off with US$12.9 million,” Dr. Mitchell announced to loud applause, indicating that they will soon be able to do a lot of things they could not have done.

The Grenada leader indicated that, in addition, a substantial grant is also coming from the European Union.

Dr. Mitchell said that the Citizen by Investment Program is also encouraging with at least EC$20 million expected in the first year. He said that it is attracting a great deal of interest with over 100 people keen to be on board.

“We will have enormous resources to be used for the development the country,” the Prime Minister said.

Prime Minister Mitchell sees great times ahead because they have been able to regain the confidence of the International Community.

“Because we have rebuilt confidence in Grenada, because we have shown a strong sense of direction where the country must go, people have a lot of confidence in the country at this time.”




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