According to the Virgin Islands Daily News, the loan period cannot exceed three years and the money will be used to acquire property and develop an aquaculture production pond facility for raising shrimp and tilapia. In addition, a seafood processing, packaging and transhipment plant will be built.
Senator Norman Jn Baptiste, who sponsored the bill, says that that the facility will offer significant economic benefits to the territory and help it compete against the nearby island of St Lucia, which is already developing its own shrimp and tilapia facilities.
Ponds
