Every cent of the $60 million to be invested by the National Insurance Scheme (NIS) in the Four Seasons project will be used to construct the luxury hotel.
Furthermore, Professor Avinash Persaud, who is heading efforts to restart the stalled project, insisted that Barbados’ debt to gross domestic product (GDP) would not be affected in any way by the NIS investment in the hotel and villa project.
Persaud made these statements on state-owned Caribbean Broadcasting Corporation yesterday as he responded to public concerns about Government’s involvement in the West Coast entity.
“The NIS money – the bond, will be going to building the Four Seasons hotel,” he stressed.
Read the full story in today’s DAILY NATION.
NIS funds going to build hotel
Previous article
Next article
Related Articles
Three juveniles charged with affray
Three juveniles have been charged with affray in connection with one of the incidents at the Walk for...
Police mourn former sergeant Kenrick Marshall
The Barbados Police Service is today mourning the passing of Kenrick Marshall.
Marshall, who retired at the level of...
Traffic changes for Erskine Griffith’s funeral
Motorists should expect road closures and traffic diversions on Monday during the official funeral of former Minister of...
Elderly woman perishes in house fire
A 73-year-old woman has perished in a fire at her home at Number One, Crab Hill, St Lucy,...