Despite accusing the government of “giving away” prime Barbadian land to the African Export-Import Bank (Afreximbank), the Democratic Labour Party (DLP) moved to clarify its position on whether the bank should set up its Caribbean base in Barbados.
Speaking at the reopening of the DLP’s Sugar Hill, St Joseph constituency branch over the weekend, Senator Andre Worrell said the opposition party was not opposed to the Afreximbank establishing its headquarters here but condemned the transfer of state land free of cost to the bank as an unprecedented betrayal of taxpayers, arguing that it failed to secure long-term benefits for the country.
He declared: “The hurtful thing about it is that you have a government that is actually giving away prime real estate to a multibillion-dollar bank.
“We are not opposed to having a headquarters in Barbados, or even for it to be in Jemmott’s Lane. What we are concerned about is the manner in which the government went about giving away the land of the people of Barbados—for not even a dollar.”
Senator Worrell argued that there was no justification for transferring ownership of the land, citing past instances where international institutions were welcomed under more advantageous terms.
“The United Nations headquarters in Barbados was not just handed over,” he said. “The National Insurance Scheme (NIS) built the headquarters, and the UN leased it from them, ensuring that lease payments contributed to the NIS.”
Similarly, he pointed out that the Caribbean Development Bank (CDB) was established in Barbados without requiring the government to surrender ownership of national assets. “The CDB is owned by Caribbean countries, including Barbados, and we sit on its board of directors. That land was never given away.”
In stark contrast, Senator Worrell emphasised, Afreximbank is a commercial entity over which Barbados has no influence.
He warned that transferring ownership of the land stripped Barbados of any control over the property—an oversight he suggested could have serious consequences.
“When they vested the land into the bank, it means that the bank has the title to that land, and they can do whatever they want with it,” he cautioned. “If, in ten or 20 years, the bank fails, what happens then? That asset could be sold off to cover debts, and the headquarters could be moved out of Barbados. Where would that leave us?”
He questioned why a lease arrangement or another mechanism ensuring long-term national benefit had not been considered instead.
Worrell also criticised how the deal was conducted, saying Barbadians were kept in the dark until after the land transfer was finalised.
“The decision was made in 2022, but we only found out about it recently,” he said.
Highlighting what he saw as a double standard in bureaucratic processes for ordinary citizens compared with this deal, the opposition senator added: “For the average Barbadian, getting approval to build a house takes at least six months to a year. You need a deed, a plot plan—everything to prove that your construction won’t infringe on another property. But somehow, within days of transferring the land, this bank already had town planning approval, a groundbreaking ceremony, and a full architectural design in place.”
Amid growing public unease over the deal, Worrell commended Barbadians for demanding answers and urged them to hold the administration accountable.
“When this government came to office, they campaigned on transparency and accountability. Was there any transparency in this deal?” he asked. “Barbadians are right not to be satisfied with how this was done, and they should not settle for it.” (SZB)
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