St. Vincent and the Grenadines Prime Minister Dr. Ralph Gonsalves
The St. Vincent and the Grenadines government has obtained permission from Venezuela to borrow US$9 million it paid on loans owed to the ALBA Bank.
The money had been held in an escrow account at the Eastern Caribbean Central Bank, as sanctions imposed on Venezuela by the United States prevented its transfer to Caracas.
Prime Minister Dr. Ralph Gonsalves says US$4 million is to be used to buy vessels for the fishing industry.
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