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MP for St. James South,Donville Inniss.

Donville Inniss tells delinquent SRLF borrowers to ‘pay up’

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PERSONS that have been delinquent in their payments to the Student Revolving Loan Fund and have the wherewithal to repay are being asked to do so, or at least go in and talk to officials if they are experiencing difficulties.
 
This plea is coming from Member of Parliament for St. James South, Donville Inniss, who says government simply cannot afford to keep supporting this fund because of delinquent borrowers.
 
His comments came against the backdrop of the announcement by the Finance Minister of an emergency $5 million injection into the struggling SRLF.
 
Saying that Barbadians have to be practical about the realities being faced, he lamented the fact that some persons’ financial requests have not been approved or they have been told no funds are available.
 
“So while I support getting the funds out of the schemes that the Minister of Finance has announced and getting more money from the Caribbean Development Bank; I want to implore Barbadians who have 
borrowed money from the SRLF – who are gainfully employed – please pay your loans back to that fund.”
 
“It is a revolving loan meaning you are supposed to pay your part back so that the State is in a position to lend to those who wish to lend and borrow. We can’t keep borrowing from others to replenish the fund when there are those out there who are not making an effort. On the other hand, if you borrow and you have not been in a position to find meaningful employment or there are other circumstances – health conditions or a family circumstance – please make an effort to at least sit with the Fund and have a conversation with them,” he said.
 
With a delinquency rate of over 40 per cent, he told the Honourable Chamber that some persons have taken the attitude that they don’t have to repay the money “because it is Government.”
 
“There is nothing free in this country. Somebody has to pay, the money has to come from somewhere. Therefore this Budget continues that discourse, where we are seeking to bring the country to a level of reality in terms of what we can really afford and what we can’t afford,” he said. (JH)

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