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Sandals pulls out of major hotel project in Tobago

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Sandals Resorts International (SRI) Tuesday, citing “constant and ongoing negative publicity” has withdrawn its participation in the establishment of a multi-million dollar resort on the island of Tobago.

“So it is with great sadness and it is very unfortunate that we had to take this step (but) we believe it is best at this point in time to withdraw Sandals from this project and focus our resources in the areas where we can be more effective,” SRI chief executive officer, Gebhard Rainer, told a news conference.

Rainer told reporters that the negative media coverage the company has received over the last two and half years while the negotiations had been ongoing with the Keith Rowley administration “for us as a global brand and for what we stand for…internationally is taking on a dynamic that we are not willing to carry on any longer.

Last year, Finance Minister Colm Imbert, said that the construction of the 750-room Sandals and Beaches Resort represented a major turning point for the economy of Tobago.

He said that the hotel would have been owned by Trinidad and Tobago and equity partners and is in keeping with the objectives of the newly established Tobago Tourism Agency.

“Within this framework, the Sandals Golden Grove Tobago Project represents a major turning point for the economy of Tobago. The Sandals and Beaches Resort will be built at Buccoo/Golden Grove,” Imbert said, adding that it will be managed and operated by SRI and that the resort would have approximately 500-750 rooms and up to 2,000 permanent employees with significant linkages to the local economy.

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SRI has properties throughout the Caribbean islands of Jamaica, The Bahamas, St. Lucia, Antigua, Turks & Caicos, and most recently Barbados and Grenada.

Rainer said that SRI was grateful for the “unwavering support” from the government here regarding the project including the ‘consistent transparency and directness.

‘From the beginning there has never been a shadow of a doubt as to what the prime minister and the minister (Stuart Young) are intending to do for the good of Trinidad and Tobago. We are a company that works on the principle of transparency, on the principle of honesty, on the principle of living and working and benefiting the communities that we are operating in”.

National Security Minister Stuart Young, who was leading the government’s negotiation with SRI blamed a “handful” of persons for the decision by the Jamaica-based hotel chain to quit the project.

“This government tried its very best and put forward its best foot and all of its efforts to bring a project in particular to Tobago that would have uplifted in our view the economies of not only Tobago, but also of Trinidad.

“Today what we heard is the loss of an opportunity due to the negativity that was put on the Sandals brand only by a handful of people and I think that’s the lesson for us here in Trinidad and Tobago that a handful of people tainting a global international brand …of any Caribbean entity.

“It is indeed a sad day and disappointing day for us here in Trinidad and Tobago as a government,” Young said, saying he wanted to thank SRI “for what they have and who knows what the future will hold”.

Late last year, Prime Minister Rowley brushed aside calls from the main opposition United National Congress (UNC) and other entities for his government to make public the accord reached with Sandals for the proposed project.

“There are consultations that are going to be required. Once we agree with Sandals what the project is going to be …then we can put those details to the relevant authority in Trinidad and Tobago as to what we are about to do in Tobago.

“So if you have not yet done the agreement, let’s say on size of hotel, nature of hotel, location of hotel, then the approving agency doesn’t have anything to work with. So when persons say we are hiding information, we have no information to hide,” Rowley told reporters at the end of the weekly Cabinet meeting.

Rowley said then that his administration was not interested in every and anyone being invited to run the proposed hotel in Tobago, except Sandals.

“We wanted Sandals because of the brand. Its airlift, its worldwide advertising will give Tobago what Tobago does not have now, which is put it in a position to be known to the world.

Rainer said that while both parties had agreed on a memorandum of understanding “we have not yet entered any direct negotiations on agreements and therefore there are no signed agreements that would create or would have created any liability on either party”.

He said the parties had been speaking in good faith “and on their own risk, which means there is no cost from our side …that would be passed on to the Trinidadian government”.

“Any costs that we have accumulated be it form designs prepared…are all our own expenses,” he told reporters.

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]