(MENAFN- Caribbean News Now) BRADES, Montserrat \u2013 The government of Montserrat and the Caribbean Development Bank (CDB) in cooperation with the United Kingdom Caribbean Infrastructure Fund (UKCIF) launched today with the Little Bay port development one of the largest projects in recent times in Montserrat.\n
\u201cToday\u2019s launch of the port project marks one of the first steps towards the fulfilment of the long hoped for transformation dream. We have had to change our path several times, tacking against the wind as we press on inch by inch towards our destiny. That is how, today, we are now witnessing the reality of one of Montserrat\u2019s giant steps; a huge step for access, for trade and for tourism,\u201d said Donaldson Romeo, premier of Montserrat.\n
The new port with a total investment of \u00a321.4 million (EC$ 76.5 million) will be able to accommodate larger cruise ships than those currently accommodated and it is expected that the number of cruise passengers will increase. The project has been made possible through grant funding of \u00a314.4 million from the United Kingdom Department for International Development (DFID) under UKCIF. CDB administers the fund. The government of Montserrat is providing \u00a37 million in counterpart resources with financial support from the European Union.\n id=\"mNCC\" language=\"javascript\">medianet_width='468';medianet_height= '60';medianet_crid='637422217'; id=\"mNSC\" src=\"http:\/\/contextual.media.net\/nmedianet.js?cid=8CUVV6306\" language=\"javascript\"> \n\n
\u201cOver the long term, the provision of reliable access and connectivity to the island for the movement of people, goods and services increases the trading potential with an ultimately positive impact on growth,\u201d said Andrew Dupigny, head, infrastructure partnerships, CDB.\n
The project will deliver a set of new cargo handling equipment for the Montserrat Port Authority. Also, the project will build capacity within the Montserrat Port Authority by providing a number of training opportunities as part of the institutional strengthening component of the project.\n
During the construction phase from the end of 2019 to 2022, it is estimated that the project will create employment and generate business in other sectors of the economy than construction, including companies operating retail businesses primarily in the areas of housing, accommodation, rentals, taxi operation, vehicle rentals and businesses providing food and beverage services.
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