The New Democratic Party (NDP) supports the Government of Saint Vincent and the Grenadines in the sale of approximately 100 acres of land at Chatham Bay, Union Island, for approximately EC$54 million, under an agreement designed to protect the area’s biodiversity while strengthening the country’s fiscal position.
The lands are to be held by a company for conservation purposes, with binding covenants included in the sale agreement to ensure that the natural environment and biodiversity of the area are protected.
Chatham Bay is located near important forest reserves, including Water Rock Reserve, Large Forest Reserve, Colin Campbell Reserve and Jack O’Dan Reserve. These areas are of significant ecological importance and are associated with the habitat of the endangered Union Island Gecko, a species found only in Saint Vincent and the Grenadines and will receive strengthened protection in coming months.
Further, the NDP understands that the decision to proceed with the sale forms part of the Government’s wider effort to reduce the heavy debt burden left by the previous ULP administration, whose years of fiscal mismanagement contributed to the country’s debt reaching approximately 113% of GDP. This level of indebtedness has placed serious pressure on the State’s ability to fund critical needs, including healthcare, national development programmes and public-sector reform.
As stated by Prime Minister Hon. Dr. Godwin Friday, proceeds from the sale will be directed towards clearly identified national priorities. These include contributing to the capitalisation of the National Development Bank, supporting the new Ministry of Fisheries, Land and Sea Conservation and Climate Resilience, and funding debt-reduction measures and initiatives aimed at improving Government efficiency.
In addition, and most importantly the sale includes a significant safeguard for the public interest. Under the agreement, the Government retains the option to repurchase the lands within two years at the same price for which it was sold.
Prime Minister Hon. Dr. Godwin Friday said the transaction reflects the Government’s commitment to responsible fiscal management, environmental protection and transparency.
“This transaction reflects responsible Government: protecting our natural heritage, reducing debt, and investing in the future of our people. The public interest is protected through conservation covenants,” the Prime Minister said.
Several years ago, the lands were reacquired by the ULP Government after a private investor failed to develop the property for a proposed tourism project. The land was brought back into Government ownership at a compensation value of less than EC$700,000. The current transaction therefore represents a substantial capital gain to the people of Saint Vincent and the Grenadines, while placing conservation at the centre of the land’s future use.
The NDP supports the Government’s commitment to transparency, responsible land management and the protection of Saint Vincent and the Grenadines’ natural heritage.
