Under the Caribbean Development Bank’s rules for the Virgin Islands’ $15.7 million infrastructure rehabilitation loan, contractors who wish to perform work will have to submit a bid for one of government’s “procurement packages,” Communications and Works Minister Mark Vanterpool said Monday.

Speaking at a House of Assembly sitting, Mr. Vanterpool was responding to questions about the loan from Julian Fraser (R-D3).

“As far as I understand, there is no minimum dollar value for a contract under the CDB loan agreement,” Mr. Vanterpool said, adding, “There is nothing specific in the contract saying that.”

Instead, he said, procurement packages are tied to the cost of the various individual projects.

Mr. Fraser responded, “There are some projects in this package that are in the $35,000-$45,000 range, which, around here, they call petty contracts. Are you saying that the CDB will not entertain projects that are under a certain dollar value?”

“I am fairly certain that CDB wants all contracts bid,” Mr. Vanterpool said, adding that he could check and make sure.

See the Sept. 6, 2012 edition for full coverage.