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by pltm
(PLTM) - The United Kingdom’s recent offer of up to £300 million in loan guarantee and £10 million in grants is not sufficient to help with BVI's rebuilding, which has $3.6 billion in damage following Hurricanes Irma and Maria.
This was bluntly put to UK’s Parliamentarians by BVI’s leader, Premier and Finance Minister, Hon. Dr. D. Orlando Smith.
“We welcome the UK guarantee of up to £300 million and grants of £10 million, but more resources will be needed to cover the more than £1 billion needed for reconstruction,” Premier Smith said during the Joint Ministerial Council meetings held in London on November 30.
He pleaded, “Parliament's support will be needed to secure access to UK climate finance and international assistance."
The Premier’s Office provided excerpts from his comments at the meeting in a press release issued yesterday, Thursday, December 7.
In relation to Brexit, Premier Smith told the meeting that the BVI wants to maintain its relationship with the EU and is exploring the options with respect to CARIFORUM, CARICOM and OECS.
“We also want a new economic partnership with the UK after Brexit, whereby we assist UK firms in accessing markets such as China and India to maintain British competitiveness in the world."
On financial services, Premier Smith commented, "We remain open for business and continue to run a robust regulatory regime at the highest international standards. We also continue to be engaged with our international partners."
Following the meetings, Premier said that he is grateful to the Chairman of the BVI All Party Parliamentary Group, Sir Henry Bellingham MP, for chairing the meeting with UK Parliamentarians, who were fully engaged and supportive.
The Premier met with Labour Shadow Foreign Minister, Helen Goodman MP; Lords EU Subcommittee, Chair Baroness Verma; Virendra Sharma MP, and BVI APPG Chair, Sir Bellingham.
He was joined by Chairman of the Disaster Recovery Coordinating Committee, Brodrick Penn; Director of International Business Regulations, Neil Smith; Director of the BVI London Office, Benito Wheatley; International Relations Intern, Akita Alexander; and International Relations Intern, Xyrah Wheatley.
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