New Fund to Boost Tobago Tourism

Hoteliers in Tobago will soon have access to a $50 million development fund, Trinidad’s government announced.

The financial lifeline will come from the EximBank of Trinidad and Tobago. The fund was created to “assist businesses in Tobago that have been negatively affected by the global economic recession,” the government said.

The fund will apply to tourism-based businesses to allow for debt restructuring and help for room upgrades and expansion.

The program was officially launched at a ceremony at the Mt Irvine Bay hotel in Tobago last week. The grants will be available over a five-year period.