Inter-American Development Bank cancels $160m loan for Barbados Four Seasons project

barbados four seasons construction

Another monster project left to rot in the Bajan sun

The on again – off again Barbados Four Seasons resort project may have received its final coffin-nail with the IDB finally withdrawing from this decade-old debacle. (Nation News: IDB withdraws loan for Four Seasons)

How much taxpayer funding has the Barbados government poured into this mess? Are we allowed to know? Did the government transfer any of the National Insurance Scheme pension funds to the project developers?

Barbados Minister of Finance Chris Sinckler has made all sorts of claims. In March 2013 he told Bajans that our taxpayer monies would be recovered on the sale of the Four Seasons. Well Mr. Sinckler? Where’s our money?

Back then, BFP’s readers were asked if Bajan taxpayers would recover all the monies that their government invested in the Four Seasons. 50% said we’ll never know the truth, 43.5% said there was not a chance that we would recover the monies. 6.4% said we’d get back all the money, (but that was probably Minister Sinckler himself sitting there for voting for hours.)

Former PM Thompson said that supporting Four Seasons could be “extremely risky” to the DLP Government, but Freundel Stuart went ahead and did it after Thompson died.

“Now of course the first objective is not for Government to give guarantees to projects of this type. So the Government is not available, generally speaking, for that kind of thing and I want to make that abundantly clear. It is extremely risky. It has brought down Governments in other countries and I don’t intend to let it bring down my government. And it can sometimes smack of an element of favouritism and once you start it, it becomes like a rolling stone that will gather moss…and therefore, we have to be very careful,”

February 2, 2010 – Prime Minister David Thompson in the Barbados Advocate article PM defends stance on Four Seasons

Hard Times have arrived in Barbados

We’ve said it before, and we’ll keep saying it…

1/ Shun debt. Shun expenses. Live as frugally as you can.

2/ Work hard, save what you can.

3/ Look after family and friends as you are able because you might need their help someday.

4/ Learn to grow food, repair your own car, maintain your own home. Repair clothes, repair everything. Don’t buy new anything: let some other fool pay the depreciation!

5/ Smile at the tourists, make them feel welcome but never pressured. Pick up the rubbish where you can and never do anything that takes away from the beauty of Bim.

6/ Thank God for what you do have – then get back to working harder than you ever have before.

Advertisements

18 Comments

Filed under Barbados, Barbados Tourism, Business & Banking, Economy, Offshore Investments, Real Estate

18 responses to “Inter-American Development Bank cancels $160m loan for Barbados Four Seasons project

  1. So all of the NIS money that was put into this project has disappeared as well? No wonder the retrenched workers can’t get any money. God help us here in this Barbados. We need new elections. We are termed now a failed society, and a BANANA REPUBLIC, among our fellow Caribbean people. Not a laughing matter.

  2. John Hanson 1781-1782- I SERVE 1788- 1792 BARBADOES.

    Lets get to the Facts
    There are Many Plantation deeds and plantation we walk on that are removed from the records of Barbados, here is another one BLACK ROCK PLANTATION, as the crooks liars and scumbags lawyers and Ministers hide the history of Barbados for self gains,

    We are the only ones that can show a deed for BLACK ROCK , With no CLEAR TITLE TO THE LAND NO MONEY CAN BE LOANED , this dblp government dont own any land , No Crowns land for they cant show you who they paid for the land , They must have they them own self for there is no record of payment but the money is missing.

    As with The City the Garden land, Cats Castle ,Allen View,Pile Bay, Greenfields,Silver Sands, where the same back took back 60 million also show and MOF said they have no CLEAR TITLE to the land, The same land as the Oval that they claim to own and across the street from the High Court , the land that Sir Crook Richard L.Cheltenham claim to own ?, The IDB not a fool for crooks,liars and scumbags they also Google,

    By the Numbers ,1066 Royals, 166 square miles, 1966 indep,Act 50 ,166 page of FRAUD , IDB 60 MILLION , AND NOW 160 MILLION =13 =4 MMM

    Great work by the Inter-American Development Bank for doing you home work, PONZI and Fraud must stop , Posted on Barbados Today March 3rd 2014 online paper, Yes We also have the Deeds for ALL the land in Questions, We still waiting on Station Sgt Mark White Who said to Violet Beckles that it will take 5 Years , Well 5 years is Up ,, What are the FINDINGS

    YES Mr. Ian Bourne the News Block out of the CUP and PLANTATION DEEDS IS BACK IN FULL EFFECT AFTER THE FRAUD ELECTIONS,

  3. Party Animal

    We are now down to Honour Rebel Ministers running the Country.
    IMF here we come, shame that Bajans do not understand what Devaluation means, ask the Guyanese, Jamaicans, Haiti, Etc. when your salary can’t even buy a salt bread, Bajans we have to wake up, we have to down tools.

  4. Party Animal

    Come on Mia, What are you waiting for.

  5. John Hanson 1781-1782- I SERVE 1788- 1792 BARBADOES.

    Party Animal
    January 20, 2015 at 6:12 pm

    Come on Mia, What are you waiting for.?????@@@@

    Mia need to be in Jail , for Brittons Hill , another Plantation not Listed as such in Barbados , She have the death of a family of 5 on her hands , where is the DPP for her and the AG,???? as you can see she want to give 10,000bds for lawyer fees who will charge him money favor for favor , much credit to each other

  6. NYCBGI

    STOP FANTASIZING AND REALIZE 4 SEASONS OR ANY OTHER LUXURY CHAIN WILL NOT COME TO BGI FOR 2 REASONS, CUBA JUST IS OPENING AND THE TOURIST BOARD DOES NOT HAVE A CLUE OTHER THAT GETTING PAID. LOOK AT THE 4 SEASONS IN SAN JUAN BUSY AND GOOD RATES COMPETING WITH EL SAN JUAN BOTH DOING WELL SUMMER OR WINTER, MAYBE SANDALS WILL SURVIVE BECAUSE THEY KNOW HOW TO RUN A RESORT, LOOK AT WHAT THEY DID IN NASSAU THE ROYAL BRITANNIA HOTEL CHANGED IT, PROMOTED IT AND NOW DOING WELL. BGI HOTELIERS SHOULD REVOLT, DEMAND COMPETENT TOURISM PEOPLE AND REWRITE THE PLAYBOOK, THE ONLY PATH TO SURVIVAL.

  7. Our ole colonial masters jus mekkin bare sport o we

  8. John Hanson 1781-1782- I SERVE 1788- 1792 BARBADOES.

    No clear title to land , no investment ,,,Clico fraud ,,Sagrico Fraud Bye Bye,The rest of the World not Niggers for the BLP nor DLP ,,,

    vote the CUP and get back on track

    https://www.facebook.com/pages/Coalition-of-Unified-Parties-Hon-Alex-MitchellEl-President/427129324101550

  9. Deon

    Sinckler explained the cancellation of the IDB loan and he made sense now Barbados doesn’t have to pay back any loan. The reason being the private sector has taken over the project and are doing whatever they supposed to do to restart the project. Tempro one of those wealthy private sector people who moves in the shadows or motor racing and polo circles said recently he is putting together a consortium to restart the project. What Tempro said weeks ago tallies with what Sinckler is now saying.

    The Nation continues to try to make the government and this country look as bad as possible. We are not certain what is the Nation’s agenda . Have the senior Nation people reappeared in court on the charges related to the schoolchildren video? Four Seasons restart would be a boon to the economy which is starting to wake up. Let the private sector full of mouth ,know it all’s and arrogant boasters show their mettle. We waiting.

  10. gentlejim

    Deon,,we waiting longer than you

  11. Bogbrush

    Hey Party lol. Not bein funny but i bort salt, bread and a pizza on baxters lass week so not understanding lol?

  12. Basildon Baz

    Bogbrush you bellend you cant get pizza on baxters. Now down your tool. Lol

  13. Anonymous

    Tempro works for Berjekham of Jada, whose buddy billionaire developer in the US died last year. Don’t think anyone in Barbados can come up with the kind of funding needed to start/complete this project . Bizzy/Cow and others already lost millions for the initial work clearing the land of buildings and trees. Think they will be burnt twice?

  14. Robert Story

    i have been told by Dave Ames he is looking at this as his next project.

  15. John Hanson 1781-1782- I SERVE 1788- 1792 BARBADOES.

    Deon
    January 21, 2015 at 2:58 pm @ Stinkman MOF is a liar, only time he will tell the truth is when he have to face me , For i know when he is even thinking to lie.

  16. John Hanson 1781-1782, I SERVE 1788-1792 BARBADOES,

    Robert Story
    January 24, 2015 at 6:58 pm

    i have been told by Dave Ames he is looking at this as his next project.@

    Ames better check for the Plantation Deed, We the only ones to have a deed and not the DLP or BLP fraud governments, So Ames better AIM some where Else or come and see Me for Proof.
    We have PLANTATION DEEDS for what is not even listed in Barbados but yet people living , walking and working on it and getting paid for Votes,