Samoa Offers Development Bank Loans For Cyclone Recovery
By Apulu Lance Polu
APIA, Samoa (Talamua, Feb. 18, 2013) – The Government is making available $24 million (US$10.2 million) at the Development Bank of Samoa to help revive tourism and businesses damaged by Cyclone Evan two months ago.
The scheme will provide interest free loans for the first twelve months and a 3% interest after that.
The Prime Minister Tuilaepa Sailele Maielegaoi said that the stimulus package targets businesses such as Aggie Greys hotel which is still closed after major flood damage and the Government has asked to maintain the 300 workers while a package has been worked out.
Aggie Greys management said the family owned hotel business is keeping all staff who have been working on cleaning the premises after major damage by the Vaisigano river which the hotel sits on.
Only the Gift Shop is opened which sits on higher ground and did not suffer major damage
The Government is also making available a separate facility through the Housing Corporation for people whose houses were damaged in the Cyclone and flooding to loan from to rebuild their homes.
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