Development projects being considered for PPP funding

Six projects are being considered for implementation in Tobago using the public-private partnership (PPP) funding arrangement.

They are: the construction of a commercial cargo port at Cove Industrial Park, a marina, the upgrade of the Milford Road Esplanade, the THA housing programme, a cancer treatment centre, and an urban transport hub in Scarborough.

The announcement was made at last week’s (August 16) post Executive Council media briefing by Joel Jack, the Secretary of Finance and the Economy. He said an initial assessment of the projects has been conducted.

The objective is to determine the viability of these projects for 2017-2018, Jack said. He added that the THA has to “ascertain the most appropriate and feasible projects for the use of the PPP modality”.

Last week, representatives from the Caribbean Development Bank (CDB), along with an external consultant (provided through World Bank support), visited Tobago in what Jack described as “a series of public private partnership sensitization sessions and also candidate project assessment.” The sessions, which took place at the Victor E Bruce Financial Complex, ran from August 15-18.

The Assembly is working to develop an effective framework for the PPP model of funding development projects.

Administrators in the THA, as well as key private sector stakeholders, also benefitted from the sessions, which also focused on capacity building within the Assembly.

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