Prime Minister Dr. Ralph Gonsalves is currently in Venezuela meeting with representatives of the ALBA Bank and finalizing some initiatives and arrangements under Petro caribe.
Earlier this year, there were a number of agreements made under Petro caribe including a commitment for 40,000 sacks of Urea for St Vincent and the Grenadines as well as shipments of Oil. Recently, 15 thousand barrels of oil arrived for St. Vincent Electricity Services (VINLEC), which is expected to see a reduction in electricity bills for consumers.
Other arrangements include 5 million dollars for the redevelopment of Little Tokyo; of which 2.5 million is being given in the interim to begin work.
There is also a commitment of 4 million dollars US (soft loan) for a fishing fleet programme which will deal with long line fishing, of which the Government will be getting 2 million dollars.
The Prime Minister said while in Venezuela, he will also deal with the issue of the delay of some 150 pre-fab houses.
While in Venezuela, the Prime Minister will receive an Honourary Doctorate from the Bolivarian University of Venezuela.
