budget statement 2012.indd - Grenada Customs & Excise Division

Assistance has been sought from the People’s Republic of China to
deliver a state of the art facility to host athletics and football. The
Facility will also provide a home for associations without headquarters
and office space.
In this regard, an agreement was signed earlier this week between the
Ministry of Sports and a technical team from China on the designs for
the Stadium. The next step is a formal agreement with the People’s
Republic of China on final designs, budget and commencement date
for the upgrading of this Stadium.
We anticipate that this Project will commence before the end of this
year at an estimated cost of US$10 million.
Regional Disaster Risk Reduction Project
This project is jointly funded by the World Bank and the Climate
Investment Fund and includes a $21 million grant for a total financing
of $70.7 million.
It will contribute to vulnerability and risk reduction through several
activities aimed at reducing vulnerabilities to public infrastructure as
well as institutional strengthening. The major activities to be undertaken
include:
• Equipment for Maurice Bishop International Airport
• Rehabilitation of Lance and Hubble bridges in Gouyave
• Rehabilitation of two schools
• Flood Mitigation
• Landslide and Rockfall Mitigation
For 2012, $4.8 million has been allocated. This Project is estimated
to generate 30 jobs.
St. George’s Market Square
Funding for the St. George’s Market Square has been secured from
the Government of Venezuela and work is currently underway. A
sum of $3.3 million is allocated for this Project in 2012. This Project
is estimated to generate 15 jobs.
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2012 Budget Statement