GOVERNMENT OF ST. KITTS AND NEVIS ALLOCATES CBI FUNDS FOR CRITICAL NATIONAL NEEDS

Basseterre, St. Kitts, July 07, 2024 (SKNIS):  Prime Minister, the Honourable Dr. Terrance Drew, who also serves as the minister responsible for the Citizenship by Investment (CBI) programme, announced that the government has made a strategic decision to forgo the CBI dividend in order to prioritise vital national projects such as investing in the Development Bank and hurricane preparedness.

This decision, he said, reflects the administration’s commitment to ensuring the physical and financial survival of the nation.

“The CBI dividend, which was committed to being paid twice yearly depending on a surplus from the CBI receipts after all financial obligations are met, has seen two dividends and one reset paid so far. This achievement makes our country the only one to have implemented such a system,” said Dr. Drew. “However, due to the recent readjustments of the CBI and the need to meet critical obligations, a surplus was not realised this period.”

Prime Minister Drew elaborated on these obligations, noting that they include saving the Development Bank and indirectly supporting social security, investing in a $50 million desalination plant set to commence soon, and preparing for an active hurricane season. He added that these commitments are essential for our nation’s physical and financial survival.

“This administration will continue to be transparent with our people and make the best decisions in your interest,” Prime Minister Drew assured.

He reaffirmed the government’s dedication to prudent financial management and prioritising initiatives that safeguard the well-being and future of the nation.

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