MINISTER OF Tourism, Entertainment and Cul-ture, Aloun N'dombet Assamba, yesterday morning, said the board of the Tourism Enhance-ment Fund has approved an initial expenditure of $42.5 million to support four projects across the island.
This was disclosed in a press release issued yesterday by the Ministry of Tourism, Entertain-ment and Culture.
Speaking at the annual general meeting of the Jamaica Hotel and Tourist Association (JHTA) at the Half Moon Conference Centre in Rose Hall, St. James, the Tourism Minister also responded to concerns expressed by the Opposition JLP about the time elapsed between the announcement of the decision to set up the TEF and its first tranche of disbursements.
DUE DILIGENCE
The minister, the release said, explained the reasons for the delay. "I have two words for you - due diligence. Under my watch, I can guarantee you that public funds will be carefully managed and properly accounted for ... the TEF is to manage the funds prudently, carefully assessing requests for financing based entirely on what is in the best interest of Jamaicans and our visitors," stressed the minister.
Mrs. Assamba also reminded the audience that the proceeds include resort development, product development and beautification, with the specific projects targeted for funding satisfying at least two of five criteria: The project must be self-sustaining, boost economic prosperity, increase competitiveness of Jamaica's tourism product, promote resort development, and/or focused on heritage and culture.
The following grants were approved at the last board meeting of the TEF:
$15 million to clean up sections of Montego Bay ahead of last Thursday's inaugural call by the world's largest sea vessel Freedom of the Seas.
$20 million towards the renovation of Devon House, which will play a key role in hosting the Caribbean Business Club during the 2007 staging of the Cricket World Cup in the Caribbean.
$3.5 million for landscaping and beautification works along Main Street in Ocho Rios.
$4 million towards the construction of a roundabout near Mineral Heights in Clarendon to facilitate traffic flow along the island's southern corridor.
"I must warn the parish councils not to expect the TEF to take on public works or any other project which properly falls within your purview. The fund will only finance incremental work to add value to the tourism product, and/or to tackle some special challenges on a one-off basis" the minister added.
