New fund to assist tourism stakeholders
BRIDGETOWN, Barbados, CMC – Barbados is moving to establish a hotel innovation fund to provide low-cost finance to hoteliers and other stakeholders in the tourism industry, Finance and Economic Affairs Minister Chris Sinckler has announced.
“I recently had discussions with the chairman of the National Insurance Board, Dr. Justin Robinson, and he has assured me that very shortly we will be able to bring our sector stakeholders and players in to begin to fashion the Hotel Innovation Fund that we had announced in the Financial Statement and Budgetary proposals of last year.
“The dynamics of it are being put together and the purpose of that Fund is to ensure that we can get low-cost finance to hoteliers, in particular, but other tourism service providers as well,” Sinckler said at weekend opening of the 124 room Radisson Aquatica Resort, formerly the Grand Barbados Hotel.
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