The Government of Barbados is planning an extensive urban renewal programme in and around Bridgetown, aimed at not only reducing the high population density, but providing a better quality of life for residents.
“We will be using urban renewal as a tool, whether it is removing pit toilets from our landscape, upgrading water and sewage systems, improving storm drainage and street lighting, and making small gaps and alleys safer and more accessible in overcrowded districts, and ultimately reducing the density of housing in areas that are overcrowded,” Mottley said in an address to the nation on Sunday night.
“This is more than just being about beautifying our capital or Greater Bridgetown for it to be admired. It is about communities to be repaired, where families must be allowed to live with dignity and opportunity.”
She said the Saudi Fund for Development facility, which was at signature stage, would fund some of this work, including construction and repairs in the healthcare sector.
The Eunice Gibson Polyclinic at The Pine, St Michael and Randal Phillips Polyclinic at Oistins, Christ Church, would be rebuilt while the other seven scattered across the Barbados would be refurbished.
Mottley addressed the inevitable questions which would araise with another loan.
“Mr [Errol] Barrow once told us that anybody who does not believe in deficit financing is anti-developmental because we have too far a bridge to carry. But when we borrow, we don’t do so faster than the economy is growing. When a family’s income rises faster than its loans, the loans get easier to carry; and for a country, it’s the same way,” Mottley explained.
“As we borrow, we are literally building up capacity and because the loan is spread over a long period of time, we get the benefit of growth to help you make that payment easier and easier and easier with each year. As the economy expands, debt becomes a smaller share of national income.”
Another benefit, the Prime Minister said, was since this concessional financing has both a long repayment and grace periods, repayment will become easier as the economy improves.
“That is back-end discipline enabling frontline change so that the people of Bridgetown feel the difference first, so that the people who need health care in our districts all across the island benefit properly.” (SAT)
