Trinidad and Tobago: UNC questions timing of PNM’s $250M loan from Scotiabank

The Opposition leader of Trinidad and Tobago, Kamla Persad-Bissessar has expressed concerns over the People National Movement’s decision to obtain a $250 million loan from Scotiabank just a few weeks ahead of the General Election, scheduled to take place on 28th April, 2025. As per reports, the PNM has announced that the loan would be used for roadworks. 

While voicing her concern over the matter, the UNC leader noted that her party would not allow it to go unchecked. She also highlighted about the relation between PNM Government and Scotiabank, and said that the bank has had some tremendous luck in securing financing contracts under the PNM over the last ten years. 

She therefore aimed at scrutinizing every loan taken by the PNM Government and reiterated her party’s commitment to following every money trail to determine where the PNM has exactly spent billions. The Opposition leader emphasised on the rights of the citizens of Trinidad and Tobago, and said that they also deserve answer and justice. 

The Opposition leader Kamla Persad-Bissessar aimed at reporting every road-paving contract to the Office of the Procurement Regulator. She also warned the officials at PURE (Programme for Upgrading Road Efficiency) to tread carefully in order to audit every contract that is given out during this election period. 

Kamla Persad noted that these loans taken by the PNM Government highlight the true motives of the administration. She added that during the PNM’s tenure, they consistently neglected the nation’s crumbling infrastructure. However, as they are approaching towards the General Election, they are now rushing to pave roads at breakneck speed, particularly in marginal constituencies. 

She added that all these tactics clearly reveal their attempt to sway voters. The UNC leader shared about the complaints she received from the citizens about the haphazard and low-quality roadworks being carried out across the country. Describing the effort as political façade. The UNC leader, Kamla Persad noted that it is nothing more than a smokescreen meant to fool the people into believing the Government is finally taking action.

“The truth is, these roadworkses are of such poor quality, they likely won’t last a year. This is not responsible governance, it is totally a misuse of public funds or another example of the billions squandered under the PNM Government,” said Opposition leader Kamla Persad-Bissessar. 

The UNC leader Kamla Persad said that such developmental projects are nothing more than electioneering tools. They are designed only to pump money into the PNM's election campaign. She continued, saying that the PNM wants everyone to believe they care. However, their actions are more driven by desperation than that of concern.