-
by pltm
(PLTM) - The National Democratic Party (NDP) administration is being praised for its efforts to move quickly, to formally establish the Recovery and Development Agency (RDA), to ensure that the recovery plans will be delivered in a transparent and accountable manner.
“The BVI’s adoption of this approach should therefore be applauded, as it not only follows international best practices, it proves to the world that the Premier and his Cabinet is leading the recovery efforts with a clear set of accountability and good governance standards as a guide,” Governor Gus Jaspert said last Thursday, February 15.
He said that the establishment of the RDA goes far beyond what some persons believe is merely a requirement set out for the UK loan guarantee of £300 million.
“In reality, an independent body to administer vital recovery projects is not only a key part of international best practice and good governance, it also serves as a means to generating further financing and investment for the development of this Territory, post hurricanes Irma and Maria," he said.
He added, “This is one aspect we can all agree on is important.”
The recovery money will be stored in a Trust Fund. The Agency will have the responsibility to use the funds from the trust for the BVI Recovery and Development effort only, and will by statute be required to report to the public in the most transparent and coherent manner, the activities associated with the agency’s recovery efforts.
Premier and Finance Minister, Hon. Dr. D. Orlando Smith said that consultations on the proposed $721M Recovery and Development Plan is ongoing and assured that the plan will not take effect until it is approved by the House of Assembly.
-----
Copyright 2023 by Virgin Islands Platinum News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
