BRADES, Montserrat – Montserrat is to begin the construction phase of the US$46 million port development project that the authorities say will increase accessibility and improve trade opportunities for the island.
Montserrat Port Development in Little Bay (File Photo)The project is being financed with a US$36.8 million grant from the United Kingdom through the United Kingdom Caribbean Infrastructure Fund (UKCIF) which is administered by the Barbados-based Caribbean Development Bank, and US$9.2 million from the government here.
The project involves the development of climate-resilient port facilities which will enhance the delivery of port services, increase accessibility to the island and improve the country’s connectivity with the rest of the world.
Montserrat will also benefit from better access to goods and services for citizens, expanded economic activity and increased trade.
“In this global environment, countries must be able to trade efficiently in order to prosper. The Montserrat Port Development Project will be one of the largest projects implemented in Montserrat in recent times,” said CDB’s Vice President, Operations, Isaac Solomon.
He told the ground-breaking ceremony that on completion the new facility ”will provide direct, positive impacts on the economy through the potential for increased employment, improved productivity, and overall improvements in the business environment in Montserrat.”
Governor of this British Overseas Territory, Sarah Tucker, said, London understands how pivotal the Little Bay Port Development Project is for Montserrat’s revitalization, economic development, and sustainability
“As Governor, I was so pleased to receive confirmation that the UK was able to make a tangible demonstration of its continued support for our wonderful Island, by increasing the funding for this project from £14 million (One British Pound=US$1.22 cents) to over £28 million.”
The £350 million UK Caribbean Infrastructure Fund (UKCIF) provides grant funding for climate-resilient infrastructure projects in nine Caribbean countries.
