Leader of Government Business, Kurt Tibbetts has confirmed that members of Cabinet and the Board of Trustees of the Cayman Islands National Recovery Fund Board are to convene a high-level meeting today.
Both parties are expected to finalise the details and sign an agreement for Brussels to release the long-awaited first tranche of a post-Hurricane Ivan reconstruction grant.
The accord is part of a tripartite contract between the Cayman Islands Government, the NRF and the European Union for c-envelope money applied for in June 2005.
Once signed and returned to the EU, the agreement would allow the Recovery Fund access of up to $4.171.828 to continue its recovery efforts since the 2004 hurricane.
It is expected the money will be available two weeks after Brussels receives the complete set of government documentation.
The Recovery Fund had previously stated the grant, including a second tranche of $3.721, 018, would be used for building and repairing hurricane damaged homes.
NRF’s Executive Director, Mr. Mark Laskin said the organisation will liaise closely with the government and appropriate agencies including district committees.
He said his organisation would mobilise resources to start the proposed building projects within 24 hours of the agreement’s signing.
‘Everything is in place. We have got the paperwork ready to sign with contractors once the agreement has been signed,’ he advised.
Mr. Laskin said the grant is earmarked for 90 repairs and at least 20 rebuilds across Grand Cayman.
He said the second tranche of EU money would be available only once the first installment has been spent.
‘We would anticipate completing all the work within 12 to 16 months.
‘Priority will naturally be given to families and people needing medical assistance given that we’re now two weeks into the 2007 hurricane season,’ he said.
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