Beautiful Virgin Islands

Monday, Jun 30, 2025

No loan guarantee, but UK favours COI technical assistance

No loan guarantee, but UK favours COI technical assistance

Governor John Rankin has confirmed that the $400 million loan guarantee previously offered by the United Kingdom (UK) in the aftermath of hurricanes Irma and Maria are now off the table for the BVI.
The Governor gave that indication while speaking on the Talking Points radio programme recently after he was asked whether his office planned to support efforts to reinstitute the loan guarantee offer from the UK government.

Much of the discourse over the election campaign period centred on the BVI’s need to improve its crumbling infrastructure. But without the necessary funding, the government could be left hamstrung in trying to deliver on its promises in that area.

While declining to give specifics or any indication as to whether this is something the UK will move to assist the territory with, Governor Rankin said the subject may well have been broached during talks at the recently held Joint Ministerial Council (JMC) in the UK.

The Governor acknowledged that there is an urgent need for infrastructure improvements to be completed and said he was just as keen as any other resident to ensure that there is an approach that can be found to have this initiative moved forward.

Reviews need to be considered

In the meantime, Governor Rankin suggested that the UK may be inclined to support the BVI by providing further technical assistance to the government as it looks to complete the current suite of Commission of Inquiry (COI) recommended governance reforms.

The Governor reiterated that fewer than half of the nearly 50 COI reform recommendations have been implemented thus far, but confirmed that technical assistance had previously been sought by the BVI government, and granted by the UK in an effort to move the process along.

“There certainly have been requests made for technical assistance, which… the UK government is happy to provide where it can,” Governor Rankin stated. “Fewer than half of the COI recommendations have been implemented and we’re now, almost a year down the line.”

The Governor shared that, in some instances, all that has happened so far is that COI-recommended reviews have been produced for some areas of concern. “What we need to now get on with is actually considering the contents of the reviews, consulting on them as necessary, and then implementing them,” he added.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
×