St Kitts: The Prime Minister of St Kitts and Nevis, Dr Terrance Drew has travelled to Barbados for the signing of a Memorandum of Understanding with the EXIM Bank. The aim of the visit was to getting the access to up to $300 million in financing.
The EXIM Bak of the United States has been dedicated to supporting the development avenues across the island. The government is also working diligently to create stronger relationship with the United States of America.
The Prime Minister took to his social media to share some images from the event and signing of the MoU. The leaders of the Export-Import Bank were also present at the signing of the MoU.
PM Drew said that the funding will help the government in making developmental calls in line with the Sustainable Island State development of the country. The Minister highlighted that the funds will be used for some of the most critical programmes aligning with SISD programme.
The Prime Minister said that they are looking into ways to diversify the country’s economy with the programmes supported by the funding from the government of St Kitts and Nevis. The officials have shared that they are dedicatedly working on ensuring that the economy is not overtly dependant on a single sector of the economy.
The government has observed that the Citizenship by Investment and Tourism Sector are responsible for bringing the largest chunk of funds to the federation’s economy. The organization has claimed that they want to develop other sectors to ensure that tourism is not overburdened.
This will also make sure that the other sectors the economy have the opportunity to flourish and branch out. The administration has already taken steps towards this mandate with new developments in the agriculture sector.
Recently, the government has commissioned the Bayford’s Layer Chicken Breeder Farm and Hatchery. PM Drew is extremely proud and delighted with this development in the agriculture sector.
The Prime Minister, Dr Terrance Drew said that the MoU is a proof of the nation’s commitment to sustainable development.