UNCLAIMED BANK ACCOUNTS IN THE ECCU COULD HELP TO FUND OECS AIR

Discussions have advanced for the possible use of unclaimed bank deposits across the Eastern Caribbean Currency Union to fund a proposed OECS airline.

Prime Minister the Right Hon. Gaston Browne who broached that idea earlier this year, discussed it with his colleague finance ministers in Dominica on Friday, at the 113th meting of the Eastern Caribbean Central Bank Monetary Council.

The bank’s governor, Timothy Antoine says legislative amendments to the Banking Act would be needed to pave the way for the use of this pool of funds, estimated at US$55 million.

He says consensus is building for the possible earmarking of these funds to help to shore up regional air transportation.

Garfield Burford reports.