Tobago tourism gets $7M CDB boost

PRESIDENT OF the Caribbean Development Bank (CDB), Dr Compton Bourne said the bank was committed to promoting the social/economic development of its member countries and to improving their public governance “in the broadest sense.” He gave the assurance when he addressed a ceremony at Buccoo Government Primary School, in Tobago, at which agreements covering Technical Assistance Loans for projects in Tobago were signed between the CDB, Government and the Tobago House of Assembly (THA). He said the bank had no doubt that the initiatives had the potential to bring major benefits to the people of Tobago. Dr Bourne said the CDB was proud to be able to play a part in the process — by way of technical assistance loan funding to the tune of some $7 million.

Part of this sum — $3.1 million — will go toward a feasibility study and preparation of the final designs of the Buccoo Integrated  Community Development Project. This is slated to cost $5.3 million, and Government will fund the additional $2.1 million. “This project is of tremendous significance for the residents of the area and tourism in Tobago,” said Bourne. It was noted that several critical problems had retarded the proper socio-economic development of the small seaside community, which is home to the popular “Sunday School.” These were identified as degradation of the beach and near coastal waters; the absence of properly functional facilities for landing as well as processing fish; a recreational jetty in urgent need of rehabilitation for use by boats which service the Buccoo Reef and Nylon Pool; the inadequacy of water and sewerage facilities which constitute health hazards and pollute the beaches; the lack of parking facilities to match the growth in entertainment services, and the absence of a community centre.

The second technical assistance loan of $3.7 million will be used in strengthening the capacity of the THA to manage projects, including their financial dimensions. This institutional strengthening programme is broken up into four components — establishment of an effective public sector investment programming system; support for establishment of a treasury management unit; strengthening of procurement management systems and procedures; and enhancement of the capacity of the management services unit to provide management consultancy services. The programme is estimated to cost $5.4 million. Government is providing $1.6 million.