PM Dr Terrance Drew signs USD40 million agreement with Ministry of Agriculture and Afreximbank

The agreement marks major progress toward building a modern port in St Kitts and Nevis, boosting its goal to become a key Afro-Caribbean trade and logistics hub.

31st of July 2025

St Kitts and Nevis: Prime Minister Dr Terrance Drew has signed a USD $40 million Letter of Intent, along with the Ministry of Agriculture and the African Export-Import Bank (Afreximbank), during his visit to Grenada for the AfriCaribbean Trade and Investment Forum (ACTIF2025) on July 28 and July 29.

This agreement is a large step forward in the development of a modern, state-of-the-art port facility in St Kitts and Nevis. This port development also plays a key role in the country’ goal of becoming a hub for trade and logistics in the Afro-Caribbean region.

“I was proud to witness a defining moment for our nation, the signing of a USD $40 million Letter of Interest between the Ministry of Agriculture - Hon. Samal Duggins and Afreximbank to begin the journey toward building a modern, state-of-the-art port facility right here in St. Kitts. St. Kitts and Nevis is ready to take its place as a hub for Afro-Caribbean trade, logistics, and opportunity,” shared PM Drew in a Facebook post.

According to the post, the signing was done by Agriculture Minister Samal Duggins, who is the head of this project. Also, the Prime Minister of St Kitts and Nevis said that the new port is expected to create more job opportunities, bring in more ships and containers, and open more business opportunities for the people of St Kitts and Nevis.

“This project means more ships and more containers and more jobs for our people, as well as chances for our businesses, and new bridges to the African continent that we’ve long dreamed of building,” highlighted PM Drew.

Further, Prime Minister Drew praised Agriculture Minister Duggins for his leadership and vision.

He said, “I commend Minister Duggins for his vision and commitment. We are no longer standing on the sidelines of global trade, we are stepping up, showing up, and shaping our own destiny.”

Significantly, the St Kitts and Nevis - Afreximbank agreement demonstrates the increasing cooperation between Africa and the Caribbean community, with the twin island Federation at its forefront.