$100M loan ‘not enough to tackle all the critical challenges’- Premier
Premier Wheatley said this while responding to a question from the media regarding an update on the spending of the 100 million-dollar loan during a press conference on Friday, July 24, 2026.
He said he would be explaining just how the money has been spent during the Question and Answer segment of the Fifth Sitting of the Third Session of the Fifth House of Assembly (HoA), which began on July 21, 2026.
‘My concern is that I need more money’
“I could say to you a 100 million-dollar loan certainly is not enough to tackle all the critical challenges we have as a territory. So, everything is committed.”
A large portion of the funds is committed through projects in the planning phase and contracts, he added.
“That is not going to be enough if persons are concerned about the spending of that 100 million loan; my concern is that I need more money, not that the money is being spent.”
The process takes time
Premier Wheatley also sought to explain that the process of how quickly that money is spent takes time.
“The process of getting the projects done takes time. The process of paying the contractors for the work, as they work, it takes time.”
He added that it will take time for all the money to be expended and reassured that all of the money has already been committed.
The $100 million loan facility with CIBC was signed on October 31, 2024.
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41 Responses to “$100M loan ‘not enough to tackle all the critical challenges’- Premier ”
## **"Together We Rise. Together We Build. Together We Lead."**
The time has come for a new generation of leadership.
**All 13** are united by one purpose: to serve the people of the Virgin Islands with integrity, professionalism, accountability, and results. Our team includes experienced **engineers, economists, accountants, lawyers, network and systems engineers, business professionals, educators, and community leaders** who understand the challenges facing our people and have the expertise to solve them.
This movement is not about politics as usual. It is about putting the people first.
We believe every Virgin Islander deserves the opportunity to succeed regardless of race, culture, religion, political affiliation, or social status. We reject hatred, division, and discrimination. Our government will be one that embraces every community and works for every family.
---
# Our Pillars for a New Virgin Islands
## Pillar 1 – Affordable Living & Economic Relief
The cost of living has become unbearable. Food prices continue to rise, utilities are expensive, and many hardworking families are struggling to make ends meet.
We will:
* Review import duties to reduce the cost of essential goods.
* Strengthen consumer protection and encourage healthy competition.
* Increase food security by supporting local production.
* Create policies that put more money back into the pockets of our people.
A stronger economy should improve the lives of everyone—not just a select few.
---
## Pillar 2 – Modern Infrastructure
Every time heavy rain falls, too many communities experience flooding. Roads, drainage systems, and public infrastructure must be modernized.
We will:
* Upgrade drainage systems across the Territory.
* Improve roads, bridges, sidewalks, and public spaces.
* Modernize utilities using smart technologies.
* Build resilient infrastructure that can withstand future climate challenges.
Infrastructure should protect our communities—not fail them.
---
## Pillar 3 – Digital Transformation
The Virgin Islands must compete in the digital economy.
We will work to:
* Expand reliable high-speed internet across every island.
* Explore advanced satellite internet services, including providers such as Starlink, where appropriate and permitted.
* Encourage the development of secure data centers to support digital businesses and government services.
* Modernize government services through digital platforms.
* Improve cybersecurity and digital infrastructure.
* Position the Virgin Islands as a regional technology and innovation hub.
The future is digital, and we intend to lead—not follow.
---
## Pillar 4 – Financial Innovation
The modern economy requires access to global financial services.
We will pursue policies that encourage responsible access to international payment and financial technology platforms, subject to regulatory requirements, including services such as Payoneer and Sendwave or similar providers where available.
We will also:
* Modernize local banking.
* Expand digital banking services.
* Encourage fintech investment.
* Improve financial inclusion.
* Strengthen Social Security's long-term sustainability while exploring opportunities for stronger retirement and investment options consistent with sound governance.
---
## Pillar 5 – Education for Wealth
Education must prepare our children for life—not just exams.
Students should graduate knowing:
* Financial literacy.
* Investing.
* Entrepreneurship.
* Digital business.
* Artificial intelligence.
* Coding.
* Wealth creation.
* Budgeting.
* Trusts and estate planning.
* Real estate investing.
* Stock market fundamentals.
* Digital finance and online business.
Every student should leave school with the knowledge and confidence to build financial independence.
---
## Pillar 6 – Healthcare That Works
Healthcare should be efficient, affordable, and patient-centered.
We will:
* Reform and strengthen NHI.
* Improve patient services.
* Reduce unnecessary delays.
* Invest in modern healthcare technology.
* Recruit and retain qualified healthcare professionals.
* Expand training opportunities through partnerships with accredited medical schools and healthcare institutions.
* Improve mental health services.
* Strengthen elderly care.
Healthcare should put patients first.
---
## Pillar 7 – Supporting Families
Strong families build strong communities.
We will support:
* Single parents.
* Senior citizens.
* Persons living with disabilities.
* Youth development.
* Affordable childcare initiatives.
* Job training.
* Housing opportunities.
* Family counseling services.
Every family deserves hope and opportunity.
---
## Pillar 8 – Community Partnerships
Government cannot solve every challenge alone.
We will build stronger partnerships with:
* Churches.
* NGOs.
* NPOs.
* Youth organizations.
* Civic groups.
* The private sector.
Together we can strengthen communities and create lasting solutions.
---
## Pillar 9 – Agriculture & Food Security
Food security is national security.
We will:
* Invest in hydroponic farming.
* Support local farmers.
* Modernize agriculture.
* Expand fisheries.
* Improve food storage.
* Encourage agricultural technology.
* Reduce dependence on imported food.
Fresh food should be available and affordable.
---
## Pillar 10 – Marine Economy
Our sea is one of our greatest resources.
We will invest in:
* Commercial fishing.
* Marine services.
* Boat building and repair.
* Maritime education.
* Sustainable fisheries.
* Blue economy innovation.
The marine sector can create jobs for generations.
---
## Pillar 11 – Tourism & Regional Partnerships
The Virgin Islands should strengthen partnerships across the Caribbean.
We will explore greater collaboration with the Dominican Republic and other regional neighbors to:
* Increase tourism opportunities.
* Improve food security through regional trade.
* Expand access to shipping networks.
* Promote cultural and business exchanges.
* Encourage regional investment.
A stronger Caribbean benefits us all.
---
## Pillar 12 – Trade, Shipping & Global Commerce
We will modernize the Trade License system to make it easier to do business while maintaining appropriate oversight.
We will also pursue opportunities to improve cargo logistics by strengthening regional shipping links and attracting more international commerce. Better shipping connections can help reduce costs, improve supply chains, and make the Virgin Islands a more competitive place to do business.
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## Pillar 13 – Economic Diversification
The Virgin Islands must create new industries.
We will explore responsible opportunities in areas such as:
* Technology.
* Renewable energy.
* Data centers.
* Digital services.
* Financial technology.
* Research and innovation.
* Sustainable development.
Where natural resources exist, any future development—including the possibility of mineral exploration—must be guided by scientific evidence, environmental protection, transparency, public consultation, and laws that ensure the people of the Virgin Islands receive fair and lasting benefits.
Economic growth must be sustainable and responsible.
---
# Our Commitment
We believe leadership is measured by results.
We believe government should serve the people.
We believe opportunity belongs to everyone.
We believe innovation creates prosperity.
We believe accountability builds trust.
Most importantly...
**We believe in the people of the Virgin Islands.**
**All 13** stand together with one mission:
To build a safer, smarter, stronger, and more prosperous Virgin Islands where families can afford to live, young people can build successful futures, businesses can thrive, and every citizen has the opportunity to succeed in the digital age.
**Together, we are not simply preparing for the future—we are building it.**
Our nation cannot continue to accumulate debt without transparency, accountability, and measurable results. Citizens deserve to know that every dollar is being managed wisely and that future generations will not bear an unnecessary financial burden. The focus should be on responsible spending, reducing waste, and ensuring that public funds deliver real benefits to the people.
Many citizens are concerned that too much public money is being directed toward excessive travel, celebrations, and political events instead of addressing the Territory's most pressing needs. The best way to address these concerns is through transparency, accountability, and regular public reporting on government spending.
The people of the Virgin Islands deserve leadership that prioritizes healthcare, education, infrastructure, job creation, and economic growth not a cycle of increasing loans without clear plans, measurable outcomes, and responsible financial management. Every borrowed dollar should demonstrate value for the people, not simply add to the burden that future generations will have to repay.
Mr. Premier, please sit with the Lord and let him give you strategy for these Virgin Islands. We do not need anymore serious spending until a proper and agreed upon plan has been developed.
I’m disgusted. We need elections ASAP.
Every political leaders of the British Virgin Islands knew, including the Premier, that $100M borrowed by the VIP leadership was insufficient to meeting all the need, wants, and lustful mindset of modern development expectations of 2023-2026. No where in this world where democracy has been nor is being in practice is any amount of money enough to fill the void of lust in the mind of human, generally speaking.
If our current government political cabinet had borrowed $200M, this figure too would have been said "is not enough to tackle all the critical challenges. Second only to Satan and his cabinet of demonic wicked spirits, man's lust of selfish ambitious wants has became, and continuing being his greatest hindrances to the true freedom from bandage.
In spite of this truth $100M been borrowed, part spent wisely, part spent frolickingly, and part unjustly, in my honest opinion, deliberately taking was not sufficient enough to meet our need. However this question need to be ask of our Premier. How come, Premier, Natalio Sajuande Wheatley, only now that the next general elections are drawing close, next year 2027, that you are pretending that you didn't knew that $100M borrowed was not enough? You knew, next.
VI has plenty money. What the SECRET is you are trying to use money for your SECRET money for friends and cronies Airport project.
You and the other 12 need to GO!!!!!
Just wait until we get the first good shower of rain.
Please note and understand this potion of our Premier speech on this Topic issue carefully.
'This is not going to be enough, if people are concerned about the $100M loan. My concern is that I need more money, not the money is been spent."
Notice people, the Premier use the personal pronoun I, not the plural pronoun we. When then should the the voters of the next coming general elections vote for I, but not we?
WAKE Up people of the British Virgin Islands. We have been hindered from our rightful position of true freedom of slavery not only by white oppressors, but also by our local ethnic political oppressors, now led by our Premier, Natalio Sajuande. Wheatley.
Moreover, the VI is a small, resource-poor territory (country). Consequently, to put work in place to meet First World, long-term, functional, reliable, safe infrastructure, viz, electrical power, energy, roads, water,,wastewater, storm water ( drainage), telecommunications, public facilities ( buildings, structures, etc), public safety( police, fire), hospitals/clinics, parks and recreation, etc., the VI will have to borrow funds with either medium or long term pay back. The source of funding can be the full faith and credit of the territory, bonding,,utilities revenue , etc..In any event, the borrowing must be prudent, funds spent for intended purpose, funds/projects managed to deliver value for money, etc.