The Government of Grenada is pursuing the BOLT: Build, Operate, Lease, Transfer arrangement as a policy direction for saving financial resources on the rental of government’s facilities, while creating hundreds of jobs for Grenadians.
Prime Minister, Dr the Hon. Keith Mitchell made this announcement during the just-concluded 2020 Budget Presentation at the Houses of Parliament in Mt Wheldale.
Dr Mitchell said that the BOLT arrangement for three long-awaited infrastructural projects will incur no upfront demands on the government’s coffers. In fact, he said the value of the projects to private entities is an estimated US$100 million and will create job opportunities for about 200 Grenadians.
The Finance Minister indicated that the private sector’s willingness to invest in our country is a testimony to its unmatched level of confidence in the local economy. However, the Prime Minister is even more heartened by the level of employment and economic activities these approved projects will generate.
Among the buildings which will be renovated under this initiative are Governor General’s Residences, the Halls of Justice and the Police Headquarters.
Ministry of Finance, Planning, Economic & Physical Development
Sounds similar to the Public Finance Initiative projects in the UK. The result was very detrimental to public finances for years to come.
They should be a national appeal to raise funds to help support the restoration of Government House. Let’s do this for future generations.