Republic Bank remains committed to financing Marriott Project – Brassington

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 Head of NICIL, Winston Brassington.
Head of NICIL, Winston Brassington.

[www.inewsguyana.com]Executive Director of the National Industrial and Commercial Investments Limited (NICIL) Winston Brassington has assured that the Republic Bank remains committed to Guyana’s Marriott Hotel project, which is currently underway in Kingston, Georgetown.

Brassington dispelled reports that the Bank pulled out of the project. He said on Friday (October 11) that he was recently was in contact with one of the directors of Republic Bank, who spoke on behalf of the chairman, and who gave full assurance that the bank is still on board with the project.

“As of this moment, I have been given the full commitment of the bank that nothing has changed as regards its investment in the Marriott Guyana project,” Brassington said.

Brassington, who is also head of the Ministry of Finance’s Privatisation Unit, further pointed out that his conversation with the bank official stemmed from the fact that he received telephone calls from two reporters representing other sections of the media, who said they had information that Republic Bank had pulled out of the project.

According to him, while he is ready and willing to speak with reporters, he is however disappointed that many of them often represent the private, special interests of the certain media houses.

“My response to the two reporters, who called individually from separate media entities, was that unless they were willing to vouch for the accuracy and authenticity of their information, I would have no other alternative but to conclude that they were acting on behalf of these private, special interests and the persons behind them,” he said.

Republic Bank is expected to provide financing for the project to the tune of US$27 Million.

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