The Investment Minister did not substantiate the truth of these claims but urged Chastanet to avoid “scaring” potential future investors. Hilaire says it is customary for investors to obtain financing in the country of interest.
“When investors overseas hear that there are in Saint Lucia, elements that do not think investors should get any financing in Saint Lucia, it will decrease confidence in ourselves as an investment destination. That's why he's doing it. The same reason that he announced to the world that DSH (Desert Star Holdings) is in the process, or at least considering, taking the government agreement that he signed,” he said.
While purported as truth, the Opposition has not provided supporting documents for these claims.
“[The Opposition] understands that the GPH deal has now obtained approval for a loan from the Bank of Saint Lucia to undertake the project. Our understanding is that there may be a syndicated loan, but for certain, that the Bank of Saint Lucia will be lending money to GPH for its investment in Saint Lucia,” Chastanet alleged.
Hilaire, however, says the Chastanet administration’s investment history does not inspire confidence in their criticism. Recalling the NIC-Cabot investment deal, Hilaire said: “The same Leader of the Opposition, when he was Prime Minister - [when] all the reports suggested NIC was going to buy lands in the north for the people of Saint Lucia to own - discouraged [NIC] from doing so. A foreign entity instead was facilitated to get [NIC] monies - our money, the workers’ money - to buy the land.”
The Cabot development received its fair share of criticism from civil society when it was determined that archaeological remains were “destroyed”.
“I was kind of surprised to see cars driving across it, people parking up, having picnics. The rust from under the wheels of the vehicles gets into the dirt and then the waves come in and wash it away. So the site has been almost totally, I say about 99% eroded or washed away. There's nothing left of it. It's a big disappointment for me,” explained Archeologist Dr. Reginald Murphy in 2021 following an assessment of the Amerindian burial ground.
The GPH deal includes a lease agreement between the government and Global Ports Holding; the development of the Castries and Soufriere Waterfronts; and the construction of a boardwalk spanning Bananes Bay to Carenage Bay, Castries. Once the 30-year lease period ends, the government will retain full control of the waterfront properties.