St. George’s, Grenada, July 28, 2025 (SKNIS): In a defining moment for the future of infrastructure and education in Saint Kitts and Nevis, Prime Minister the Honourable Dr. Terrance Drew today signed a significant Heads of Terms agreement with the African Export-Import Bank (Afreximbank) during the fourth AfriCaribbean Trade and Investment Forum (ACTIF2025). This agreement outlines the Government’s intent to access up to USD 50 million under a climate-linked facility designed to finance major upgrades and development of critical social infrastructure.
The proposed “Education Construction and Rehabilitation Climate-Linked Facility” aims to address longstanding challenges in climate resilient infrastructure. The initiative is closely aligned with the Government’s agenda of building a sustainable and inclusive society, one where citizens benefit from modern, climate-resilient, and future-ready infrastructure.
“This agreement represents more than financing, it represents our vision for a stronger, more resilient Saint Kitts and Nevis,” said Prime Minister Drew. “We are laying the foundation today for generations to come to access quality education and vital services, regardless of their geographic or economic background.”
The Heads of Terms express a mutual intent to move forward with negotiations and final arrangements, subject to financing terms and approvals. It marks a significant show of confidence in Saint Kitts and Nevis’ development plans by one of the continent’s largest multilateral financial institutions.
Prime Minister Drew said the government will now work closely with Afreximbank to define the terms and structure of the financing, ensuring the final facility aligns with the nation’s economic and social development goals, as well as its climate resilience commitments.
He said that the signing ceremony at ACTIF2025 not only underscored the strengthening ties between Africa and the Caribbean but also demonstrated Saint Kitts and Nevis’ leadership and forward-thinking approach in tackling global challenges through local action.
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