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Jason Denayer Manchester City Jersey The Caribbean Development Bank

The Caribbean Development Bank (CDB) is providing loans totalling US$65 million to four shareholder governments of regional airline LIAT (Barbados,Aaron Rodgers Packers Jersey, Antigua and Barbuda, St. Vincent and the Grenadines,Tedy Bruschi Patriots Jersey, and Dominica) to assist with the purchase of aircrafts.The loan agreements,Andres Escobar Colombia Jersey, CDB announced yesterday,Juan Carlos Valenzuela Mexico Jersey, will provide for the loans to be made to and repaid by LIAT over a 13-year period, following a grace period of two years.LIAT gets US$65M loan to modernize fleet.Co-financing for the project is being provided by shareholder equity contributions and from the sale of LIAT’s existing aircrafts.The loans were approved by the Bank’s Board of Directors during a meeting at its headquarters in Barbados on Thursday.The Fleet Modernisation Project involves the replacement of LIAT’s aging fleet through a combination of lease and purchase of aircraft; financing the transition costs associated with the changeover; the upgrade of maintenance facilities; and other institutional strengthening activities.According to CDB yesterday, the project will provide LIAT with the most cost-effective means of improving the reliability of its service and consequently its contribution to the socio-economic development of the region.“It will have significant impact on the operational efficiency and financial performance of the airline. Realisation of these results will require the involvement of all stakeholders. Reliable and efficient air transportation is essential for connectivity, mobility and accessibility within the region,http://www.soccerpro.us.com/Belgium/, and for some of CDB’s borrowing members,Derek Barnett Jersey, LIAT provides the only air links with the rest of the region.”CDB said the project is consistent with CDB’s strategic objective of supporting regional cooperation and integration and contributes to CDB’s overall mandate of reducing poverty through social and economic development.LIAT has operations in Guyana and flies to almost all the Caribbean islands.
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