In a bid to boost the sports tourism industry, Barbados is seeking to borrow $50 million from the African Import/Export Bank (Afreximbank) to upgrade the historic Kensington Oval “to the next level”, Prime Minister Mia Mottley announced on Monday.

As she addressed the second AfriCaribbean Trade and Investment Forum 2023 (ACTIF23) in Guyana, she said the US$25 million (BDS$50 million) loan will have a “highly competitive” seven per cent interest rate and a seven-year repayment period, and it will be allocated for the urgent refurbishment of the iconic cricket stadium. Barbados is to host matches in the 2024 ICC Men’s T20 World Cup.

In a speech that also touched on road tennis, football, athletics and music, she sought to connect the cricket loan with Barbadian tourism’s prospects and her vision of future African-Carribbean cultural solidarity: “We understand the power now that sports and culture give us in being able to deepen the solidarity and expand the business markets necessary for our hoteliers, our purchases of all goods and commodities because it is within our reach.”

Mottley’s announcement of the Afrexibank loan comes 18 years after the Owen Arthur administration borrowed a combined $200 million from the Inter-American Development (IDB) and commercial banks for the demolition of the old stands and the redevelopment of the stadium in 2006 for the 2007 Cricket World Cup. The stadium also staged the final of the T-20 Cricket World Cup in 2010.

Read more at Barbados Today

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In reply to CaribbeanCricket.com

Now everyone has an understanding as to why Jamaica abstained from consideration as one of the hosting nations for the upcoming ICC T20 World Cup. Jamaican Government thinks that increasing the national debt is not an option now when there are more critical competing national demands.

In reply to Slipfeeler

These administrations love to talk about how important sports tourism is but have a shameful record in actually supporting sports.

In other words we understand that sudden/conde has proof that the World Cup Finals will be played in Bimshire so we scrambling to look good in front of our former colonial masters.

Will be simply a one off gesture that saddles the taxpayers with more debt from all the borrowing done in the last 7 years.

The ICC allegedly accepted a substandard stadium as host of the 2024 T20 World Cup Final?

Wuhloss

In reply to nick2020

good in front of our former colonial masters.

Let me understand you, India, Pakistan, Sri Lanka, Bangladesh and Afghan were colonial masters.

In reply to tc1

It is all politics from conservatives, do not pay them any mind.
Fuzzy told me almost 10 years ago, my suggestions about cricket in Bim, will increase his taxes.

In reply to nick2020

Why are you calling my name?

I have already had my say wrt this matter

It will all come out in the end

In reply to openning



Well noted my friend

In reply to sudden

Man , you could ask your friend Cherrie to send him back to the rich mudlands.

Mottley playing chess. Shallow, Trinidad and Guyana playing jacks. $50 million gats teeth

In reply to tc1

Bajans wishing for an ENG WI finals

In reply to Castled

They may be playing but are they winning?

In reply to nick2020

an Eng v WI finals would be best

In reply to Castled

playing a whole lot of wasted money. Barbados debt to gdp is not still well over 120%? Seems like a remarkable waste of money for a final of a sport that is becoming smaller by the day

In reply to sudden

England can make the finals…..I’m not sure about the West Indies though. Yes they won in SA and vs India but those weren’t full strength teams. We will have to play at our best level for every game in the tournament to make the final

In reply to Jumpstart

Bim PM could be playing with house money

How lickit becoming smaller when it was just admitted to the Olympic Games. Lickit is tit cricket bruh!

Wasted money she just keep borrowing and spending money on non priority things

In reply to Castled

tournament will probably be played amongst 15 nations at best.....the WI will probably have a qualification tournament one, max two nations from the WI will play. Just an excuse for india, england and australia to fight for a gold medal.

In reply to imusic

In reply to Jumpstart

i understand that Titland was hoping to host the finals and then the PM would call elections

In reply to sudden
who told you this? Delusional and delusional guest or what?