ST. GEORGE’S, Grenada, CMC—The main opposition New National Party (NNP) on Monday said it is “alarmed” by Prime Minister Dickon Mitchell’s statement regarding loans being disbursed by the Grenada Development Bank (GDB).
On Sunday’s television program, Mitchell said that the bank does business with Grenadian citizens, whether politicians or public officials.
“.…if that politician, citizen or public official meets the bank’s criteria for financial services from the bank, that citizen, that public official, that politician in my mind is entitled to have access to the bank’s services like any other citizen of Grenada,” Mitchell added.
The NNP said that Prime Minister Mitchell’s statements “are worrying, and the actions have violated the Grenada Development Bank Act, specifically Section 5 concerning the Prohibition Relating to Sub-loans.”
The NNP said that the particular section states, “The Bank shall not make sub-loans out of the proceeds of the loan to a director of the Bank, to a member of the Legislature of the State of Grenada or any company controlled by any such director or member of the Legislature or to the close relatives of any such director or member of the Legislature.”
The opposition party said that “this statute is intended to prevent conflicts of interest and ensure fairness and transparency in the management of public resources.
” While sitting MPs receive millions from the Grenada Development Bank, local farmers, fishermen, and small business owners struggle to access the funds they need to grow their businesses. The bank was initially designed to support these community entrepreneurs, not politicians,” the main opposition party added.
“Given these concerning revelations, we call for the immediate resignation of the GDB board to restore trust and integrity in our financial institutions. Additionally, any minister or MP who has benefited from these loans while holding office should resign and immediately repay the bank the monies received,” the NNP added.
In his interview, Prime Minister Mitchell confirmed that Andy Williams was a customer of the bank before becoming a Member of Parliament in June 2022, and he has continued to conduct business with the financial institution.
“As far as I am aware, Minister Williams has been a customer of the Grenada Development Bank before his public life involvement. That is factual and clear, and his relationship with the bank has continued. The bank and my government are not using the bank to finance any minister’s loans,” the Prime Minister said.
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