The Government of St. Vincent and the Grenadines has received a major boost for the National Geothermal Energy Project.
This follows the signing of a loan agreement for 15-million U.S. dollars between St. Vincent and the Grenadines and the Abu Dhabi Fund for Development.
The agreement was signed in Dubai this week, by Prime Minister Dr. Ralph Gonsalves and the Director General of the Abu Dhabi Fund for Development, Mohammed Saif Gha-nem Al Su-waidi.
Among those witnessing the signing were: Adnan Z Amin, the Director General of the International Renewable Energy Agency.
The Prime Minister is scheduled to leave Abu Dhabi today for London, where he will be involved in a number of meetings with Investors.
He is expected to return to the state on Sunday.
The National Geothermal Project is being implemented by the Government of St. Vincent and the Grenadines in collaboration with EMERA Caribbean and Reyk-javik Geothermal.
In August last year, Parliament passed the Geothermal Resources Development Bill, which provides for the establishment of a National Energy Committee and for development and use of geothermal resources here.