Inter-American Development Bank (IDB) is ending the country’s major loans for public infrastructure projects, arguing the investments are necessary for sustainable growth.
Credit from the IDB has mushroomed in recent years, beginning with more than $100 million for the New Providence Road Improvement Project (NPRIP), $50 million to support an air transport reform program and $81 million for the proposed revamp of the water and sewerage system.
Most recently, Guardian Business learned a further $12 million loan is being considered to overhaul the welfare system.
With IDB loans surging well over $200 million in just a few years, top officials from the bank told Guardian Business that in the end, the loans will help reduce the nation’s debt/GDP ratio.
