LOAN FOR LIAT FINALIZED AS PM BROWNE VISITS VENEZUELA

Prime Minister Hon. Gaston Browne visited Venezuela today where he signed the loan agreement for US$15.8 million which will provide badly-needed capital for Antigua-based regional carrier, LIAT. Prime Minister Browne says the loan injection would benefit the entire region served by the airline. He is quoted as saying, “LIAT is our infrastructure that links our scattered islands into a single economic space and it breathes oxygen into our tourism industry.”

The Prime Minister also formalized Antigua and Barbuda’s membership in the Bank of ALBA. ALBA is the Spanish acronym for the Bolivarian Alliance for the people of our America, conceptualized by the late Venezuelan President Hugo Chavez and the late Cuban leader Fidel Castro. The alliance was set up as an alternative to the hemispheric trade and economic policies in Washington. The ALBA bank was established in 2005 to provide development support to the countries in the alliance.

Prime Minister Browne also held bi-lateral talks with Venezuela ‘s President Nicolas Maduro; both leaders agreed to work more closely to achieve sustainable development in the region.

Prime Minister Browne returned to Antigua Monday night.