“We must be careful not to mortgage our country for another Cricket World Cup“

This from Democratic Labour Party (DLP) Shadow Minister of Culture, Youth & Sports, Tyra Trotman who questioned the lack of a proper business plan for a loan borrowed to finance the Kensington Oval rehabilitation project for the T-20 Cricket World Cup 2024, which has already gone over budget from US $25 million to US $32 million.

“The taxpayers who are saddled with the responsibility of repaying this loan should have a clear understanding of how the money is being used and not just vague political generalisations. So when Bajans ask, “Where de money gone?“ there should be a detailed and easy to understand response,” Trotman stated.

The guaranteed loan which was signed on October 31, 2023 by the Government and Kensington Oval Management Inc (KOMI) through the African Export-Import Bank was already scrutinised by Independent Senator Andrew Mallalieu in December, who called for a business plan and outline on how KOMI intended to repay the loan. However, Minister in the office of the Prime Minister, Dr. Shantal Munro-Knight insisted that this was unnecessary because “the facility would pay for itself and pay significant dividends to the people of Barbados in the long run“. The DLP Shadow Minister opposes this line of thinking, insisting that “Government shouldn’t assume that the World Cup will be a success“.

“It is puzzling that this Government needs to be reminded of the failed 2007 Cricket World Cup, where taxpayers to this day are still repaying the BB $200 million loan borrowed for the highly advertised event which yielded very low returns. Hopefully history doesn’t repeat itself!” Trotman highlighted.

The loan increase for the Kensington Oval rehabilitation project which was announced by Chairman of the National Organising Committee for the T-20 Finals Noel Lynch is slated to cover the implementation of more LED lighting and “dropping pitches” which will allow the Oval to transition from a sporting facility to an entertainment hub.

Other upgrades include: replacement of the light towers, renovations to the suites and washrooms, a new gym and dining facilities plus three other venues to be redeveloped for training.

While the DLP representative understands the potential economic growth which an event of this magnitude can bolster, she maintained that the importance of a clear business plan cannot be overlooked.

“If a small business owner wanted a loan from this same Government, a business plan would have to be presented before any funds are disbursed. However, the loan-addicted Mottley-Administration does not operate under these guidelines and hypocritically behave as if Bajan taxpayers have infinite finances to repay these millions,” she lamented.

With an estimated 20,000 additional visitors arriving for the T-20 World Cup, Trotman concluded that there are other issues to be addressed by the government besides the Kensington upgrades, such as “clean running water in every parish, the fixing of roads, crime reduction and addressing the issue of the frequent power outages across the island.”