Big IDB loan for Bajan hotel still in limbo

(Barbados Nation) The Inter-American Development Bank’s (IDB) US$55 million loan for the stalled Four Seasons project is still not a go – at least not yet.

That’s because failure to meet conditionalities attached to the loan, approved last May, could see a delay in developers’ accessing those funds.

IDB president Luis Alberto Moreno said yesterday there was a set of conditions in the non-sovereign guarantee loan which had to be met “before the loan has any effect”.

Yet he said the IDB still had confidence in the project.

Addressing a media briefing at the Lloyd Erskine Sandiford Centre, where the 15th FOROMIC Symposium is being held, the IDB president pointed out: “There are a number of things that need to happen before our loan has any effect and that, of course, has to do with the kinds of investments, the sponsors and the amount of equity they put into the project.”


More in Archives


About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Get the day's headlines from SN in your inbox every morning:

Most Read This Week

  1. Back in court: In this Keno George composite photo, Barry Dataram (left) and his wife Anjanie Boodnarine at court yesterday to answer three charges including fleeing the jurisdiction.

    Dataram to serve eight years in jail after guilty plea to new charges

  2. Yansen Brusche

    Ulverston mom of four stabbed to death by children’s father

  3. Ameer Abdool Subrati

    Man dies after bandits target overseas-based couple at Herstelling

  4. Fast food lovers inside KFC yesterday

    KFC back in business

  5. US Ambassador Perry Holloway and Finance Minister Winston Jordan shake hands after the signing of the agreement yesterday.

    Guyana inks pact for reporting to IRS on holdings of US citizens

  6. Updated: Man dies after bandits attack overseas-based Guyanese at Herstelling

  7. Barry Dataram

    Datarams getaway passports had been issued to other people

  8. Bharrat Jagdeo

    Crime has never been this bad – Jagdeo

  9. Cops grilling taxi driver after passenger robbed of $6M on seawall

Recommended For You