UK fails to provide financial support for BVI's post-Irma rebuilding efforts amid criticism from local representative
UK fails to provide financial support for BVI's post-Irma rebuilding efforts.
Despite the United Kingdom's lack of monetary support for the British Virgin Islands' (BVI) efforts to rebuild critical infrastructure destroyed by the three disasters of 2017, Third District Representative Julian Fraser has criticized the UK's decision.
Speaking at the opening ceremony for the Fifth House of Assembly, Fraser jokingly took a swipe at USVI Governor Albert Bryan Jr., who was present, mentioning that while the USVI received a generous amount of funding from the US Federal government after Hurricane Irma, the BVI received nothing.
“You just heard our Leader of the Opposition talk about $10 million in 10 years and to you that’s pocket change, because you were telling us that the [US] federal government awarded you $10 billion after Hurricane Irma,” Fraser said, drawing laughter from the audience.
“We got nothing from our colonial masters, so we’ll be leaning on you in some way,” he added.
The BVI's critical infrastructure was severely damaged or destroyed after the 2017 disasters, and since then, the territory has been working to rebuild.
However, the UK declined to offer financial assistance, stating that the BVI had a thriving economy before the hurricanes and should have been able to support its own rebuilding efforts.
Despite this, the UK did offer a $400 million loan guarantee, meaning it would stand as a guarantor if the BVI wished to borrow up to that amount.
However, the territory has not taken up this offer, and Governor John Rankin recently confirmed that the $400 million loan guarantee is now off the table for the BVI.
BVI residents have traditionally been hesitant to borrow large sums of money from international lenders, but Premier Dr Natalio Wheatley recently reiterated that the territory must seek loan funding to facilitate the execution of its much-needed infrastructure projects.
In response to this, the UK has been engaged on the issue and has expressed its support for the BVI's efforts to rebuild.
Overall, the UK's lack
Speaking at the opening ceremony for the Fifth House of Assembly, Fraser jokingly took a swipe at USVI Governor Albert Bryan Jr., who was present, mentioning that while the USVI received a generous amount of funding from the US Federal government after Hurricane Irma, the BVI received nothing.
“You just heard our Leader of the Opposition talk about $10 million in 10 years and to you that’s pocket change, because you were telling us that the [US] federal government awarded you $10 billion after Hurricane Irma,” Fraser said, drawing laughter from the audience.
“We got nothing from our colonial masters, so we’ll be leaning on you in some way,” he added.
The BVI's critical infrastructure was severely damaged or destroyed after the 2017 disasters, and since then, the territory has been working to rebuild.
However, the UK declined to offer financial assistance, stating that the BVI had a thriving economy before the hurricanes and should have been able to support its own rebuilding efforts.
Despite this, the UK did offer a $400 million loan guarantee, meaning it would stand as a guarantor if the BVI wished to borrow up to that amount.
However, the territory has not taken up this offer, and Governor John Rankin recently confirmed that the $400 million loan guarantee is now off the table for the BVI.
BVI residents have traditionally been hesitant to borrow large sums of money from international lenders, but Premier Dr Natalio Wheatley recently reiterated that the territory must seek loan funding to facilitate the execution of its much-needed infrastructure projects.
In response to this, the UK has been engaged on the issue and has expressed its support for the BVI's efforts to rebuild.
Overall, the UK's lack
