C’bean gov’ts seek help from European Bank for regional transportation

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BRIDGETOWN, Barbados (CMC) — Caribbean governments are looking towards securing financial assistance from the European Investment Bank (EIB) for the regional transportation sector amid concerns that shareholder governments may be forced to close down the cash-strapped regional airline, LIAT.

Prime Minister Mia Mottley, whose country is one of the four major shareholders of the Antigua-based airline, has confirmed that she has started discussions with the EIB on support for the region’s “transportation sector”.

While she did not name the struggling airline by name, she told reporters that during her recent visit to Canada and the United States, she met with the EIB Senior Vice President, Alexander Stubb adding that the European bank has expressed a willingness to assist with regional projects. “The EIB doesn’t only lend to the government, it also lends to private companies like the Barbados Light and Power in the past and it has also engaged here with not just national projects but also regional projects.

“And as the lead prime minister for the single market and single economy, I also had to engage in discussions with them on opportunities within the transport sector in particular, with respect to the EIB and its role in the region,” Mottley said.

Read more at: Jamaica Observer

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