BRIDGETOWN, Barbados (BGIS) -- The government of Barbados has listened to the concerns of local hoteliers about escalating energy bills and has come to their rescue by announcing a second round of relief for the sector.
Minister of Finance and Economic Affairs, Christopher Sinckler, announced the government's intentions to implement a second Tourism Industry Relief Fund (TIRF), which is also known as TIRF Lite or TIRF 2.
Speaking last Friday, the minister said the grant money would "assist those hotels, restaurants and tourism-related businesses to navigate these difficult waters of increased energy prices".
While not revealing the size of the latest financial assistance to the sector, Sinckler noted: "Ultimately, we would like...the creation of a special fund designed to promote energy efficiency and hotel refurbishment to make the [tourism sector] more competitive in the market place."
He further stated: "We would want to encourage them and incentivise [hoteliers] to take advantage of alternative energy sources because we know that to rely on fossil fuel energy is unsustainable."
The first TIRF provides $15 million in grant money to hotels and tourism-related businesses that were reeling from the economic and financial crash in 2009.