100 Million US Dollars For New Port In Kingstown

The Government of St. Vincent and the Grenadines has begun gathering funds to begin building what it says will be the biggest and most modernize port in the OECS.

The project will cost about 100 million US dollars with 40 percent of the funding for construction coming from the United Kingdom infrastructural development fund, another 40 percent of the funding will come from the Caribbean Development Bank and the remaining 20 percent coming from the World Bank, Minister of Economic Planning Camillo Gonsalves said.

Officials hope that the new port will not only transform Kingstown but also put the country in good stead to compete for regional business, especially with neighbouring islands, Minister Gonsalves said.