Minister of Tourism, Hon. Robert Tonge, says that the new school to replace Ross may begin operations by September of this year. Tonge made the announcement while addressing the 26 annual general meeting of the AID Bank.
He further said that a new loan facility specifically catered to homeowners and other businesses affected by the Ross has been put in place. “The Government has made special arrangements for those who borrowed and provide services to support Ross University School of medicine at the AID Bank.”
He explained that the terms and conditions of the new loan facility. These include a 2% interest rate on a reducing balance, repayment of 4 (four) years inclusive of 1 (one) year grace period on the interest and principal, a combination to property owners of 50% loan and 50% grant, to meet their loan obligations which accrue for the period October 2017 – December 2019.
The Minister said that the Government wants to ensure that properties are in excellent condition to welcome the new school.
