BASSETERRE, ST. KITTS, MAY 17TH, 2018 (PRESS SEC) – Delivering the keynote address at the 2018 Caribbean Investment Summit, Prime Minister Dr. the Honourable Timothy Harris announced that, effective Friday, June 1st, 2018, his Government of National Unity will be launching the first tier of a $30 million-dollar housing programme for Government employees.
“The first tier of EC $15 million would be invested in the Development Bank for on-lending at five percent, the lowest rate in the Federation. The aim is to facilitate property ownership in the country and the upgrading of homes up to a maximum of EC $300,000. Beyond this amount, the excess will be negotiated on the Bank’s applicable terms,” the Prime Minister of St. Kitts and Nevis said this morning at the St. Kitts Marriott Resort, where the Caribbean Investment Summit is being held this week.
Prime Minister Harris added, “Details of the programme will be made available at a media event next week. This programme will have a beneficial multiplier effect on our economy – more jobs, higher earnings and growth.”
The Prime Minister of St. Kitts and Nevis also announced that his Government will be making $2 million available in an Agricultural Fund, “to assist our farmers and fishers to contribute to our food security.” Prime Minister Harris explained that this fund is also going to be operationalized from June 1st, 2018.
The Honourable Prime Minister said, “There is more good news,” as he went on to reveal that the Caribbean Development Bank has approved some $8 million of support to small businesspersons.
“This will add to the pool of over 650 beneficiaries that had secured affordable financing from the Development Bank under our Fresh Start Programme,” Prime Minister Harris said.
Fresh Start provides concessionary loans and technical assistance to entrepreneurs so that they can either start or expand their micro, small and medium-sized businesses.
“Because our fiscal house is in order and our Citizenship by Investment Programme is expected to do much better going forward under my administration, we can do more for our people who have always been our first and only priority,” Prime Minister Harris said this morning, addressing attendees of the Caribbean Investment Summit.
The 2018 Caribbean Investment Summit has drawn some 300 attendees, including Heads of Government and Heads of Citizenship by Investment Units from Caribbean countries with Citizenship by Investment Programmes (CIPs), namely Antigua and Barbuda, Dominica, Grenada, St. Lucia, and host country St. Kitts and Nevis.
Government officials from Malta and Cyprus are also in attendance, as well as developers, international marketing agents and service providers from around the world, including China, India, the Middle East, Russia, the United Kingdom and the United States of America.
