During the parliamentary debate on the Disaster Risk Management Loan Act 2026, Opposition Senators James and Kishal Peters threw their support behind the $20 million facility, while emphasizing that the current government is “eating a plate of food” prepared by the previous administration. Both senators argued that the loan is a continuation of a strategic roadmap designed to address the unique vulnerabilities of St. Vincent and the Grenadines.
Senator James began his contribution by placing the record on the floor that the Opposition supports the bill because the critical groundwork was laid under the previous administration.
He noted that the original facility was a 30 million loan intended for the Arnos Vale Acute Referral Hospital but was repurposed to facilitate recovery from the “cataclysmic” impact of Hurricane Beryl.
James highlighted that this OPEC fund portion is actually part of a 40 million total package, which includes an additional $20 million facility from the World Bank’s International Development Association (IDA).
Defending the nation’s borrowing habits, James asserted that “not every debt is bad debt,” characterizing this specific loan as “good debt” because it is affordable, concessionary, and strategically suited for a climate-vulnerable nation.. He credited former Minister of Finance Camilo Gonsalves for initiating the negotiations and pilot-testing the policy initiatives, such as the National Determined Contribution (NDC), which made the current agreement possible.
To illustrate the benefits of such financing, James pointed to past projects like the slope stabilization in Ginger Village and the construction of satellite warehouses in the Grenadines, which were the only structures left standing on Union Island after Hurricane Beryl.. He concluded that over the last decade, the country has accessed over $1 billion in concessionary financing to build out institutional capacity and protect rural communities..
Senator Keisal Peters framed her support through the lens of the Atlantic hurricane season, noting that the bill was being debated shortly after the anniversary of the devastating Hurricane Beryl.. She urged the nation to reflect on its “reality” as one of the most disaster-prone islands in the region, facing volcanic eruptions, multiple tropical storms, and prolonged droughts all within a five-year span.. Peters argued that for small island developing states, investing in disaster preparedness and resilience is not optional but essential for survival..
Peters was careful to clarify that the Opposition’s support was not a “blank check” or “carte blanche” for the government to spend.. She vowed to monitor the $20 million draw-down closely, noting that she intends to see how the funds will specifically protect vulnerable infrastructure like schools, hospitals, and ports..
A central theme of her presentation was that “resilience is a dollars and cents issue,” rather than just a romanticized notion of the people’s strength.. She emphasized that the funds must be used to safeguard the most vulnerable citizens, particularly farmers and fisherfolk whose livelihoods are often wiped out in minutes by natural disasters.. Peters concluded by calling for transparency, accountability, and measurable outcomes as the government begins the “efficient implementation” of the program.