Gov’t closer to $100M loan — Premier
The government is progressing in securing a much-touted $100 million loan to address the territory’s critical infrastructure needs.
2024-09-06 12:26:37 - VI News Staff
Premier Dr Natalio Wheatley confirmed that the resolution for the loan will be presented to the House of Assembly this week for debate.
“I would have announced that $100 million loan from last year when I did the budget speech — and it’s taken until now … the resolution is being prepared for the House of Assembly this week.”
Premier Wheatley emphasised the significance of the loan, stating, “More than half of this money is going towards water, sewerage, and roads.”
In addition to the loan, Premier Wheatley announced that he had signed contracts totalling $1.8 million for immediate road repairs, with work set to begin this weekend. He further noted that the government has already put out a tender for 38 miles of road and is awaiting a Cabinet paper to proceed with decisions based on that tender.