New discussions are on the table between the government of Grenada and the people’s republic of china to renegotiate the terms and conditions on the existing loan agreement made between both parties to undertake expansion and refurbishment work at the Maurice Bishop International Airport.
Due to the effects of COVID 19, the loan agreement between the government of Grenada and the People’s Republic of China to undertake expansion and upgrade of the Maurice Bishop International Airport is on pause
The impact of the COVID 19 pandemic, resulted in a significant reduction in flights and tourist arrivals. The spill-off is a drop in revenue which forced the airport authority to seek financial assistance from the government of Grenada.
The agreement was expected to take effect in April of 2020.
Minister for Tourism Clarice Modeste Curwen says the government is now at the renegotiating stage.
While speaking of the operations of the international airport the minister was asked about the recent statement of Egyptian investor Naguib Sawiris who suggested the privatization of the airport. (Nah quib sew war ry)
Under the existing agreement with the People’s Republic of China, Grenada secured a concessional loan from the China Export and Import Bank of over $150-million EC dollars to undertake the airport upgrade.
The ground-breaking ceremony for the project was on October 28, 2020.
