Revealing a $5M loan that was earmarked by the Government to the Authority for the development of the Beef Island Airport Runway, Premier Andew A. Fahie said, “This money was not spent on resurfacing the runway, but on salaries and operational expenses.” Photo: VINO/File

Premier and Minister of Finance, Hon Andrew A. Fahie (R1) is dropping bombshell information on the state of the BVI Airports Authority (BVIAA), call the agency ‘Beyond catastrophic’ in detailing several irregularities at the agency such as moneys earmarked for development being syphoned off instead to pay salaries. Photo: GIS

Detailing what he called ‘misappropriation of funds’ at Yesterday’s July 16, 2019, Fifth Sitting of the First Session of the Fourth House of Assembly (HoA), Premier Fahie said under the National Democratic Party (NDP) administration, the BVIAA’s operations were abysmal.

Monies redirected

Revealing a $5M loan that was earmarked by the Government to the Authority for the development of the Terrance B. Lettsome International Airport runway at Beef Island, Premier Fahie said, “This money was not spent on resurfacing the runway, but on salaries and operational expenses.”

“I am advised that the Authority did not write to the government to notify… that the funds were not used for the intended purpose, and to explain how, where and why the money had been redirected as is required,” Hon Fahie further said.

Citing the scenario as ‘seriously concerning” to new members of the board, the Premier said the Airport runway continued deteriorating.

“The BVIAA was threatened with restrictions that would have affected the usable length of the runway, and this would have prevented some of the main airlines that operate at the airport from landing and taking off,” the Leader of Government Business further disclosed.

He said only with a second $5.5M loan, the board was able to complete works under the Virgin Islands Party (VIP) administration in June 2019.

"Wool over eyes" - Hon Fahie 

Hon Fahie further detailed attempts by he BVIAA to deceive the new Board over the financing received for development works of the Airport Runway, “Attempts were made to pull the wool over their eyes and convince the Board that these two sums, $5M and $5.5M were not loans but grants."

Citing missing financial documents regarding the first loan, Premier Fahie said attempts to mislead the board were thwarted by the presence of the Financial Secretary who affirmed that the monies must be repaid.

"Thank God for checks and balances,” the Premier noted.