Javascript Menu by Deluxe-Menu.com

SKNBuzz Radio - Strictly Local Music Toon Center
notices | birthdays | movies | photos | deaths | ferry schedule | toon center
SKNVibes | Click Here For Our Home Page...
Hello. Sign in to get exciting, personalized features & options. New user? Start Here!.
 Regional News  >  POLITICS
Posted: Friday 22 March, 2013 at 12:55 PM

Kuwaiti Funds Lifts Suspension Imposed on Grenada

   news home  |   view comments  |   post a comment  |   print article  |   save article  |   add to favorites  |   email a friend  |   report a typo  |   send us feedback  |   letter to the editor Bookmark and Share
Press Release
Comments    0 Recommend    23

    March 22nd, 2013   -- The Kuwaiti fund has agreed to lift a suspension imposed on Grenada following negotiations led by the country’s Works Minister Gregory Bowen.
     
    An agreement has been reached between the new Administration of Prime Minister Dr. the Right Honourable Keith Mitchell and the Fund that paves the way for work to begin next month.

     

    Works Minister Gregory Bowen says, highlights of the new agreement include a one million dollar payment to the Fund this week, a payment schedule to cover 11 million dollars in arrears, and the resumption of a three million dollar payment every six months.
     
    A condition of the agreement also involves Grenada paying monies owed to Caribbean Consolidated Contractors (CCC) Limited on a schedule of half a million dollars a month.

     

    The Kuwaiti fund suspended disbursements to Grenada in February last year after the Tillman Thomas Administration failed to make overdue payments on four loans. Works Minister Bowen says, Grenada will continue to make payments to the fund under the new arrangement.

     

    This is welcome news for the approximately 400 hundred workers who were previously employed with CCC and have been on the breadline ever since.

     

    Bowen says workers will be on the ground in significant numbers by next month as the project resumes in earnest.
     
    The project involves the construction of about ten roads in areas such as Mt. Pleasant, three in St. Andrews,  Laura Estate in St. David’s  as well as areas in St. Mark’s and St. Patricks.

     

     

     

     

     

     

     

    *************************
      DISCLAIMER
      
     
    This article was posted in its entirety as received by SKNVibes.com. This media house does not  correct any spelling or grammatical error within press releases and commentaries. The views expressed therein are not necessarily those of SKNVibes.com, its sponsors or advertisers    
             

     

 BUSINESS FINDER
7568 text it... find it...
Search our directory with your mobile phone... Text any search criteria to '7568' and get instant results on any mobile phone.
 FEATURED TOON 
 Doing What You Can Do To Get By 
 Wednesday, 1 October, 2014 
 VIEW ALL TOONS 
Business Directory
News
Sports
Education
Health
Justice
Religion
Market Place
Entertainment
Money
Island Facts
Politics
Travel
Opinion
About Us
SKNVibes | We are here to help...
We're here to help. Call: 869-466-9242
Email: support@sknvibes.com