St Lucia: Parliamentary Sitting scheduled for May 3, Ministries to lay down papers

St Lucia: As per the latest notice by the government, the sitting of the Senate is scheduled for May 3, 2022 (Tuesday), with Papers to be laid by Parliamentary Secretary in the Ministry of Tourism, Investment, Creative Industries, Culture and Information and Leader of Government Business.

The Motions for consideration are as follows:

1. Be it resolved that Parliament authorizes the Minister of Finance to borrow an amount of USD 3,830,000.00 from the International Development Association and an amount of USD 3,710,000.00 from the International Bank for Reconstruction and Development, acting as administrator of the Canada Clean Energy and Forest Climate Facility Single-Donor Trust Fund, to finance the Renewable Energy Sector Development Project;

It further resolved that –

(a) In the case of the loan from the International Development Association – (i) the Commitment Charge Rate payable on the Un-withdrawn Financing Balance is half of one per cent (1/2 of 1%) per annum, (ii) a Service Charge is payable on the Withdrawn Credit Balance that is the greater of – (A) the sum of three-fourths of one per cent (¾ of 1%) per annum plus the Basis Adjustment to the Service Charge; and (B) three-fourths of one per cent (3/4 of 1%) per annum, (iii) the loan is repayable for thirty years, inclusive of grace period of ten years, in semi-annual instalments on each 15th day of March and 15th day of September;

(b) In the case of the loan from the International Bank for Reconstruction and Development as the administrator of the Canada Clean Energy and Forest Climate Facility Single-Donor Trust Fund – (i) the Commitment Charge Rate payable on the Un-withdrawn Financing Balance is half of one per cent (1/2 of 1%) per annum, (ii) a Service Charge is payable on the Withdrawn Credit Balance that is the greater of – (A)the sum of three-fourths of one per cent (¾ of 1%) per annum plus the Basis Adjustment to the Service Charge; and (B) three-fourths of one percent (¾ of 1%) per annum; (iii) the loan is repayable over fifteen years, inclusive of a grace period of five years, in semi-annual instalments one each 15th day of March and 15th day of September.

2. Be it resolved that Parliament authorizes the Minister of Finance to raise – (a) the amount of XCD $79,700,000.00 for financing the 2022/23 Budget; (b) the amount of XCD $655,800,000.00 for financing existing debts.

The following Bill is down for consideration: Appropriation 2022/2023. As per the government, Tuesday’s Sitting is scheduled to commence at 10:00 am.