Saint Lucia: Govt outlines budget allocation in House of Assembly sitting

The Government of Saint Lucia outlined the work that will be done on the resolution to borrow USD 10 million in the house of Assembly Sitting on July 12, 2022

Saint Lucia: Govt outlines budget allocation in House of Assembly sitting
Saint Lucia: Govt outlines budget allocation in House of Assembly sitting

Castries, Saint Lucia: The Government of Saint Lucia outlined the work that will be done on the resolution to borrow USD 10 million in the house of Assembly Sitting on July 12, 2022. In the Assembly sitting, the government outlined its intention to do with this money:

  • EC $500,000 – Craft and seamoss subsectors. Government announces an allocation of EC $500,000 from USD 10 million borrowed, which will go towards the seamoss and craft subsectors.
  • EC $7.2million – youth economy programme
    Young entrepreneurs in Saint Lucia will benefit from $7.2 million of the USD10 million borrowed.
  • EC $200,000 – National Competitiveness Agenda – seed money to get our country more competitive and be able to compete in the global world. From the USD 10 million borrowed today, EC $200,000 will go towards making our country more competitive on the global stage.
  • EC $4 million – West Coast road project
    An allocation of EC $4 million of the USD 10 million borrowed today, will go towards the West Coast road project.
  • $3.4 million – Street lighting replacement project (energy saving; lower carbon footprint) – we will change sodium lights into LED lights. In order to preserve the safety of our drivers and reducing on our carbon footprint, the Government has allocated EC $3.4 million of the USD$10 million borrowed today towards this. The current sodium lights will be replaced with LED energy saving lights. Payments are over a period of 20 years, and each instalment is $USD 333,334.00.

On the Resolution to borrow for capital or current expenditure for the OECS Data for Decision Making Project (Census operation), the project will be in 5 parts. Here are the components:

  • Statistical modernization and capacity building- USD 3.5 million
  • Data collection analysis and dissemination- USD 3.7 million
  • OECS regional integration- $0
  • Project implementation– USD $0.8 million
  • Contingency emergency response- $0