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Government is seeking to clear the air on the African Export–Import Bank, which is set to be headquartered in Barbados.
Minister of Foreign Affairs and Foreign Trade Kerrie Symmonds says concessions will be given to the bank, which he describes as a supranational financial institution.
He notes that the principal shareholders of the bank are the 53 African governments on the African continent, in addition to 12 CARICOM member states.
Minister Symmonds says provisions given to the bank are similar to those of the Caribbean Development Bank, the Caribbean Examination Council headquarters, INTERPOL, the Caribbean Disaster Emergency Management Agency, the Inter-American Institute for Cooperation on Agriculture, and the Regional Security System.
Minister Symmonds says it is disappointing that such conversations do not occur when American, French, or British investment is tabled for the country.
He says it is time to put petty politics aside and look at the broader benefits, as attracting more headquarters to the country enhances its international reputation, promotes investment, boosts commercial activity, and creates employment for Barbadians.
Minister Symmonds stresses that the Afreximbank in Barbados has received fewer concessions than in Cairo or any of the other 53 African states.
