BASSETERRE, ST. KITTS (October 18, 2024: PMO) – St. Kitts and Nevis is actively pursuing a sustainable and resilient economic future, driven by a slate of transformative projects supported by the Citizenship by Investment (CBI) programme and other strategic partnerships.
In a recent address on the state of the CBI program, Prime Minister, the Honourable Dr. Terrance Drew, shared plans to reshape the nation’s economic landscape, enhancing sectors such as health, education, housing, agriculture, and critical infrastructure.
Prime Minister Drew emphasised that projects funded by CBI would now serve as pillars for long-term development rather than mere short-term revenue sources. Among these transformative projects are the New JNF Climate-Smart General Hospital, funded by the Republic of China (Taiwan), the New Basseterre High School, which is slated to break ground in early 2025, and the Smart Homes Initiative which is set to deliver 100 hurricane-resistant homes by the end of 2024.
Beyond healthcare, education, and housing, Prime Minister Drew also noted that his administration will be focusing on water and energy security, with major infrastructure projects set to stabilise these essential services. He made mention of the Basseterre Desalination Plant, and the Needsmust Power Plant Expansion, in partnership with the Saudi Fund for Development, which will strengthen the Federation’s electrical grid, introducing modern, fuel-efficient power generators to ensure reliable energy.
These infrastructure investments, as stated by the prime minister, are part of the larger Sustainable Island State Agenda, a plan for the nation’s resilient, sustainable development that extends well beyond short-term financial gains. “This signals that the era of gross mismanagement is over”, he said, and further underscored his government’s commitment to converting CBI revenue into meaningful, lasting change for the Federation’s citizens.
The CBI programme, which was established in 1984, has evolved to become one of the oldest and most reputable of its kind globally, providing economic benefits through foreign investment in exchange for citizenship. The programme’s recent transformation under the St. Kitts-Nevis Labour Party Administration is a direct response to the changing global landscape. This evolution of CBI aligns with a broader commitment to sustainable development.
Recently restructured as a statutory corporation, the CBI programme is now overseen by a newly appointed Board of Governors and managed by a dedicated team, ensuring that due diligence and regulatory compliance are prioritised.
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