A 50-Million US dollar Loan Agreement was signed on Tuesday by the Governments of St. Vincent and the Grenadines and the Republic of China on Taiwan.
The funds will be used for construction of a 250-Room Hotel at Mt. Wynne/Peters Hope on the leeward side of the Island.
Delivering remarks at the Ceremony, Minister of Finance Camillo Gonsalves said the project will transform Mt Wynne as the Government continues in its thrust to enhance the nation’s Tourism sector.
He said it is expected that the Hotel will be constructed over the next two years.
Meanwhile, Prime Minister Dr. Ralph Gonsalves expressed gratitude to the Government and people of Taiwan for their financial support for the Mount Wynne/Peters’ Hope Tourism Development Project.
Taiwanese Ambassador to St. Vincent and the Grenadines Calvin Ho, said Taiwan is pleased and excited to be associated with the multi-million dollar tourism project.