The next general elections in St. Vincent and the Grenadines are constitutionally due by March 2026.
And Prime Minister Dr. Ralph Gonsalves has promised Vincentians that his Unity Labour Party Government has EC$3 billion to spend on capital projects between now and March 2026.
He whetted the appetites of hundreds of ULP members and supporters during an address at an event to mark the 22nd Anniversary of his ULP’s hold on the administration of the country.
The event was held at the old E. T. Joshua Airport, Arnos Vale, last Sunday, March 26, 2023.
And as far as how the sum of EC$3 billion was going to be spent, Dr. Gonsalves made it clear that no project under EC$1 million would be considered.
This train of capital project financing is complemented by certain funding arrangements and projects already in train, some of which will extend into 2026.
One of these referenced by the Prime Minister was a Caribbean Development Bank financing arrangement of US$88.4 million for the country’s engagement strategy 2022 to 2026, which will address needs in agriculture, education, energy, physical infrastructure, climate change resilience, and private sector development among other areas of national need.
Also in this vein was the US$500 million investment by Sandals, and hotel development at Ratho Mill (Royal Mill), Mount Wynne, with Government involvement, and at Peter’s Hope.
All of this comes amidst the EC$650 million Kingstown Port Modernisation Project and the US$98 million Acute Referral Hospital in Arnos Vale, for which funding has already been sourced from the World Bank. Also still on the cards, was the private-sector driven plan to build a new city at Arnos Vale – on what is left of the old E.T. Joshua Airport facility.
And for the first time, Vincentians learned with assurance that when the new port in Kingstown is complete, the land where the old port is located in the city will be available for development, in which the private sector will be encouraged and incentivized to invest.
Developments in this regard will encourage wellness facilities and cultural and artistic facilities. Additionally, another cruise ship pier will be constructed.
“What are you going to do? You’re going to change this party which has done so much for this country, brought you from almost the depths of under-development to progress in our country?” Dr. Gonsalves asked of his faithful at last Sunday’s rally as he stroked their expectations of another party victory in 2025/26.
