ST. GEORGE’S, Grenada, CMC – Grenada says it will use funds provided by the World Bank to facilitate the liberalisation of its electricity sector as part of an initiative being undertaken by other countries within the Organisation of Eastern Caribbean States (OECS). Public Utilities Minister Gregory Bowen told Parliament that EC$1.4 million (One EC dollar = US$0.37 cents) from the World Bank would be used to facilitate the process. “I want to assure the nation that a steering committee will be formulated and become active in ensuring we work with the other countries for the liberalisation of the electricity sector” Bowen said, adding that initial indications are, that once the system remains the same, a reduction in electricity rates will not be realised.
