Managing Director and Chief Executive Officer of the BVI Financial Services Commission, Dr. Robert Mathavious has been appointed Chairman of the Recovery and Development Agency Board.

The other board members are Ms. Maria Mays, Mr. Clarence Faulkner, Mr. Clyde Lettsome, Ms. Sharie DeCastro, and Pastor Gregory George.

Premier and Minister of Finance, Dr. the Hon. D. Orlando Smith, OBE made the announcement at the Fourth Sitting of the Third Session of the Third House of Assembly on Thursday, April 26.

Premier Smith said, “During the last sitting, this Honourable House passed the Virgin Islands Recovery and Development Agency Act, 2018 heralding the start of a new era in the recovery process. The Act came into force on April 23, 2018 and six persons have already been approved for appointment to the Board of the Agency.”

He added, “We are grateful to the named individuals for agreeing to take on this very important responsibility and look forward to the exemplary execution of their duties under the Agency Act.”

The Premier said that in order to guide an effective, efficient and transparent recovery process, the Government of the Virgin Islands will establish a Recovery and Development Agency to coordinate the implementation of the British Virgin Islands Recovery and Development Plan.

This agency is established through legislation, and managed by the board and supported by a secretariat. It will be responsible for ensuring that the activities underlying the Recovery and Development Plan, approved by the House of Assembly, is carried out. The agency will have a limited five-year mandate.

Funds will be disbursed for the implementation of activities included in the Recovery and Development Plan, based on approval of the agency’s board. The multi-stakeholder nature of the board will also allow for decisions to be taken in an impartial and transparent manner while preserving the integrity of the Recovery and Development Plan.

Attached:  Official photo of Premier and Minister of Finance, Dr. the Hon. D. Orlando Smith, OBE. (Photo credit: GIS)