Opposition Member Hon Marlon A. Penn (R8) has said he will show support when the government does something good and has been consistent in doing so. Photo: BVI Department of Disaster

Thursday, October 31, 2024, Premier and Minister of Finance, Dr the Honourable Natalio D. Wheatley (R7), 2nd from left, made history by signing the largest loan agreement in the Virgin Islands’ history—a $100 million facility with CIBC First Caribbean Bank (Cayman) Limited. Photo: Facebook

(L-R) Talking Points Co-hosts Damion C. Grange, Violet Thomas-Gaul, and guest Hon Marlon A. Penn (R8). Photo: Facebook

"Even though I’m in opposition, if the government is doing something good, I believe it is good for the country, I will support it, not just because I’m in opposition,” he said on Talking Points on ZBVI 780 AM on Monday, February 16, 2026. 

With that answer, co-host Damion C. Grange asked Hon Penn to list two things that the government has done or is doing that he would say are good for the people.

“It’s hard to find those two things to be honest,” Hon Penn answered, but continued, “One thing I would say is that it was the right decision to borrow money to address the infrastructural issues of the country.”

The House of Assembly (HoA) approved a motion for one hundred million dollars to be borrowed from CIBC in September 2024.

The loan between the government of the Virgin Islands and CIBC was signed on October 31, 2024, marking the largest loan agreement in VI history. 

Execution of funds is the challenge

Hon Penn said the challenge he has is how the government is using that borrowed money.

“If you’re going to spend hard earned tax payers money, you have to have a clear plan, a clear vision in terms of how that money is going to be spent.”

He expounded, saying that if the money borrowed is not spent in areas to improve the quality of life for the people of the Virgin Islands through roads, water, infrastructure network or to ensure some type of revenue is generated in the country, then there will be a problem in the future. 

“We’ll be left holding the bag, our children, grandchildren will be holding the bag for the next ten to fifteen years, paying back a loan that we can’t get no additional money because we’ve tapped out in terms of our borrowing capacity to do any meaningful infrastructural development.”

Hon Penn said a more targeted approach is needed in terms of how money is spent in the country. 

Premier and Minister of Finance Dr the Hon Natalio D. Wheatley (R7) has said the government intends to spend every cent of the one-hundred-million-dollar loan.