Soft funding for COVID care centre
Article by December 16, 2020
A 20-year soft loan has been granted Barbados to cover the cost of refurbishing and re-purposing Harrison’s Point and buy equipment to outfit it as a coronavirus hospital, Prime Minister Mottley has revealed.
Though she did not disclose the amount, she described the loan as “decent and good funding” that has a two-decade-long repayment schedule.
She told the House of Assembly: “There is a four-year moratorium on the loan and then the rate of interest is 1.25 per cent, which is extraordinarily concessional and the loan is over 20 years with that four-year moratorium… rather than having to absorb all this fiscal year.”