Thursday, April 18, 2024

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THE INTER-AMERICAN DEVELOPMENT BANK (IDB) only cancelled its $160 million loan for the Four Seasons Project after the Barbados Government asked it to.

This was made clear by Minister of Finance Chris Sinckler yesterday in response to a DAILY NATION story. He explained that the money offer was withdrawn because the new operators had made it clear they did not need “institutional financing”.

And not too long from now, he is anticipating, the new investors will disclose their plans to execute the long-stalled venture with a design that will result in an injection of upwards of $250 million into the Barbados economy.

In an exclusive interview, the minister complained that yesterday’s published report could have given the impression that the bank acted to withdraw the financing because of some failure on the part of the country.

Please read the full story in today’s Midweek Nation, or in the eNATION edition.

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