Barbados PM in discussions with EIB for funding regional 'transportation sector'

It seems that Prime Minister Mia Mottley has initiated discussions with one of the Caribbean’s development partners in Europe regarding funding to struggling regional airline as the future of LIAT hangs in the balance.

However, without naming the airline, Mottley, who is the Lead Head of Government on the Caribbean Community (CARICOM) on the Single Market and Economy (CSME) in the CARICOM quasi-cabinet, said she had started discussions with the European Investment Bank (EIB) on possible funding for the regional “transportation sector”.

While speaking with journalists at a media conference Mottley opted not to give specifics. Barbados PM told that she has met with senior vice president of the EIB Alexander Stubb, pointing out that the financial institution has assisted Barbados before in the water sector and it was willing 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,” said Mottley.

“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,” she said.

Shareholder governments in LIAT have been pondering the future of the airline as it continues to restructure and call on governments whose countries benefit from its services to contribute. Barbados is the majority shareholder. Other major shareholder governments are Antigua and Barbuda, where the airline is based, St Vincent and the Grenadines and Dominica.