Grantley Adams International Airport Going PPP
With Christmas approaching how many Barbadians have registered the news that Grantley Adams Airport (GAIA) is going the route of a Public Private Partnership (PPP) to fund the running of the airport? This is an interesting move by the government; a new transaction for Barbados concerning one of our main ports of entry.
As civic minded Barbadians we must insist on transparency. Government has teamed up with the International Finance Corporation (World Bank) to help oversee the bidding process.
Reports indicate the government has received several offers from investors to invest $300 million in the PPP. This week we also learned that government granted a 5 year contract to a US-based firm to ramp up marketing of the island’s products and services at the Grantley Adams International Airport (GAIA).
The upside is that a good PPP will be a win win for Barbados by providing access to the investment to maintain a world class airport therefore relieving government of the ‘responsibility of allocating scare resources and/or attract more debt in times of austerity. The downside is that there must be transparency and Barbados has struggled in this area of governance.