It appears that the highly debated Four Seasons Resort and Residences in Barbados should soon be moving forward with construction.
This news comes as $60 million guarantee from the Barbados government has been approved for the multi-million project. Though no official announcement has been given by Government about the US $60 million facility, it appears that the project is one step closer to being restarted.
In December 2009 stakeholders in the resort asked Government to guarantee the repayment of a US$60 million in return for a 20 per cent stake in the project and “special rights”.
There has been much debate about the status of the development as it has attracted high-net worth individuals as investors in the development.
The project has gained international attention from organisations such as the International Monetary Fund and even rating agencies have commented on the significance of the construction halt. 
The government plan as announced in early January 2010, included a US$60 million facility from Ansa McAL Merchant Bank and its Barbadian affiliate, Consolidated Finance, that allows for a repayment of the Bank of Scotland loan, the acquisition of the Esso land to complete the site, a settlement with creditors, and the recommencement of construction.
At that time,the creation of a new management board was among the top priorities of the deal. That board has been under the guidance of the Executive Chairmanship of Prof. Persaud, with the support of the new Lenders, Private Residence owners, existing shareholders and the Government working on the project for a few months, prior to the announcement. Professor Persaud has over 20 years of experience in investment banking before becoming an advisor to governments and institutions around the world.
