St. Kitts and Nevis Signs MoU with EXIM Bank for $300 Million Financing to Bolster Sustainable Development

Basseterre, St. Kitts – St. Kitts and Nevis has taken a significant step toward sustainable development with the signing of a Memorandum of Understanding (MoU) with the Export-Import Bank of the United States (EXIM). Dr. The Hon. Terrance Drew, Prime Minister of St. Kitts and Nevis, traveled to Barbados on November 25 to finalize the agreement, which provides access to up to $300 million in financing for critical projects under the Sustainable Island State Agenda.

The MoU emphasizes the Federation’s commitment to economic diversification and sustainable growth, aiming to reduce reliance on any single economic sector. This initiative aligns with ongoing efforts to strengthen partnerships with international entities while driving transformative progress in key development areas.

This morning, I traveled to Barbados to participate in the signing of a Memorandum of Understanding (MoU) with the Export-Import Bank of the United States (EXIM), securing access to up to $300 million in financing. This funding will support critical projects aligned with our… pic.twitter.com/ZmaFWQlGjI

— Dr. The Hon. Terrance Drew (@TerranceDrewSKN) November 25, 2024

“This agreement underscores our determination to position St. Kitts and Nevis as a leader in sustainability and innovation while fostering stronger bilateral relations with the United States,” Prime Minister Drew shared in a statement via social media.

The partnership with EXIM Bank represents an opportunity to invest in infrastructure, renewable energy, and other projects that advance the country’s long-term objectives. The move is also expected to generate jobs and spur economic activity across various sectors.

This agreement follows the Prime Minister’s broader diplomatic efforts to secure international support for initiatives that align with the nation’s vision of becoming a sustainable island state.

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