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Aug 30, 2019

Senators Get Feisty over US10M Loan Motion

Darrell Bradley

The Government also borrowed ten million U.S. dollars from the Inter-American Development Bank for natural disaster emergency contingencies. G.O.B. approached the bank for financial assistance to facilitate the execution of projects designed to alleviate the potential impacts that catastrophic natural disasters would have on the country’s finances. The millions of dollars will be focused on five main areas: disaster risk management governance, risk identification, risk reduction, disaster preparedness and financial protection. The debate got heated today between Private Sector Senator Mark Lizarraga and U.D.P. Senators Michael Peyrefitte and Macario Coy. During his presentation Senator Lizarraga focused on the lack of details provided in the loan motion. Peyrefitte and Coy interjected, saying that Lizarraga was going off topic.


Darrell Bradley, President, Senate

“In relation to others areas where I don’t want the debate to go and I think it will be unhelpful for your cause.”


Mark Lizarraga, Senator for Private Sector

Mark Lizarraga

“Mr. President thank you for those comments and I think that the point has been made and it think that you must realize as well that we have barrowed an eight million US dollars already for this natural disaster emergencies and there are priority areas. That is the point I am trying to make.”



Michael Peyrefitte

Michael Peyrefitte, UDP Senator

“Mr. President on a point of order you made comments. You are the chair. You are the chair. You gave a directive to the senator to stick to it, “thanks for your comments but nevertheless continue”. You made an order Mr President. You are the chair.”



Darrell Bradley

“Senator Lizarraga, you can continue your discussion, confine your matters to the matters of the motion.”


The monies will be disbursed over the course of sixty months and the life of the loan is for twenty five years.  The loan is to be paid in thirty nine approximately equal, semi-annual and consecutive instalments of about two hundred and fifty six million U.S. dollars.

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