The African Export–Import Bank (Afreximbank) and the Government of Barbados have signed a loan agreement for the sum of US 25 million dollars to facilitate the redevelopment of Kensington Oval.
The deal was inked at Ilaro Court by Prime Minister Mia Amor Mottley, Afreximbank President Professor Benedict Oramah and Chairman and Chief Executive Officer of Kensington Oval Management Inc., Damien Gaskin.
Central Bank Governor Dr. Kevin Greenidge, Director of Finance Ian Carrington and a number of other officials were in attendance.
Prime Minister Mottley says the loan is the culmination of months of work and cricket and Africa can both contribute to sustainable economic stability.
She adds the relationship with Africa is growing and once direct transport is achieved it will bring enhanced tourism.
Meanwhile Professor Oramah says this represents the deepening of a relationship with the Caribbean and a boost for sports tourism.
KOMI CEO Damien Gaskin says its about the creation of a legacy for generations to come. He adds several initiatives are being considered for Kensington Oval.
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