Caroni Central MP: Disclose Loan Terms
Caroni Central MP Arnold Ram calls on government to disclose terms of loan agreements with Inter-American Development Bank and CAF – Latin American Development Bank, as noted in Cabinet subcommittee report on the Water and Sewerage Authority (WASA) tabled in Parliament on Friday.
At an opposition press conference on Sunday, Ram questioned whether the proposed restructuring at WASA resulted from the terms of those loan agreements.
He noted that the report stated that the subcommittee “had valuable engagement with the president of the Jamaican National Water Commission and senior officials of the Inter-American Development Bank and CAF – Bank of Development of Jamaica. ‘Latin America. How did these companies become stakeholders? You must tell us at whose invitation these entities are present. “
“The PNM said that the UNC would get the IMF to take control of TT, but you have to tell me what is the purpose of the IDB in this loan agreement?” Don’t they tell you what the structure is? Two weeks ago, the World Bank told TT it needed to cut staff by 33 percent. It could be the IMF, IDB, World Bank, they run TT’s business. Also understand that there is another loan agreement between CAF, the terms of which were not disclosed by this government in the report of its subcommittee. What are the interest rates to be charged, what is the repayment period, who is the security for this loan? “
Ram also questioned whether the proposed restructuring of WASA was not being implemented too quickly.
“The statement said the Ministry of Utilities will soon submit for Cabinet consideration a draft integrated water management program for the long-term sustainability of TT citizens. If you are submitting an integrated management program, don’t you think that much will depend on the implementation, and that the implementation, WASA or any other structure of WASA will be a major stakeholder in achieving this program? So why proceed with the restructuring without knowing what structures are required by the master plan of the program? “