Saint Lucia: Ernest Hilaire, Deputy Prime Minister of Saint Lucia, recently shared an update regarding the bills presented on March 7, 2023, during the Sitting of the Parliament of the country.
A Sitting of the House of Assembly is scheduled for Tuesday, March 7, 2023, with Papers to be laid by Prime Minister and Minister for Finance, Economic Development and the Youth Economy and Minister for Justice and National Security, Education, Innovation, Science, Sustainable Development, Technology and Vocational Training Minister and Minister for Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs.
The Motion for consideration is as follows:
BE IT RESOLVED that Parliament authorizes the Minister of Finance to guarantee an overdraft facility in the amount of EC$3,500,000.00 from the Republic Bank (Eastern Caribbean) Limited to the St. Jude Hospital for the purpose of assisting with working capital requirements;
BE IT FURTHER RESOLVED that —
(a) The repayment of the advances is on demand;
(b) The interest is payable monthly at the Bank’s Base Lending Rate from time to time less four per cent (4%) per annum with a present effective rate of six percent (6%) per annum;
(c) A commitment fee of Five Thousand Dollars is payable on acceptance of the commitment letter
The following Bills are down for consideration:
1. Constitution of Saint Lucia (Amendment) (No 2)
2. Credit Reporting
As per the update by the government of Saint Lucia, Tuesday’s Sitting is scheduled to commence at 10:00 am. The Sitting of the Senate is scheduled for Thursday, March 9, 2023, at 10:00 am.