NASSAU, BAHAMAS — East Grand Bahama MP Kwasi Thompson wants the Davis administration to explain if the government has borrowed money through the Ministry of Housing without the legal authority to do so.
Thompson raised the matter in the House of Assembly yesterday, asking a series of questions of the government.
According to a statement from the FNM, his questions were directed to Minister of Transport and Housing Jobeth Coleby-Davis,
He said: “Will the honorable minister advise this honorable house as to whether the Ministry of Housing entered into a $20 million dollar loan agreement with a company called Simplified Lending and Proven Wealth Management?”
“Will the minister name the principles of Simplified Lending and Proven Wealth Management?
“Will the minister lay a copy of the agreement with Simplified Lending and Proven Wealth Management on the table of the house?
“Will the honorable minister advise this honorable house as to why the disbursements of the loan proceeds or any portion of the related area were not in the 2022-2023 Budget Estimates?
“Will the honorable minister advise the honorable house where this loan is being booked?
“Will the honorable minister advise the house whether the proceeds of this loan have been received and expended? If so where is that expenditure reflected?
“Will the honorable minister advise this honorable house under what procurement rules, was this loan sourced?
“Will the honorable minister advise this honorable house on the interest rate of the loan and the tenure of the said loan?
“Will the honorable minister advise this honorable house of the intended disbursement schedule of the Loan and whether other financial entities were able to compete for this loan business?”
Thompson found the administration’s response inadequate, according to the statement.
“The opposition intends to continue to press the minister on this matter until she has provided the house as well as the country with all of the relevant facts and answers to each of the questions presented especially considering as Mr. Thompson pointed out that Deputy Prime Minister and the Member of Parliament for Exuma, the Hon I. Chester Cooper has committed to the parliament and to the people of the Bahamas that every single question that is placed on the agenda that they will answer,” the statement said.
