PM Terrance Drew signs $50M Afreximbank deal to boost education and infrastructure in St Kitts and Nevis

St Kitts and Nevis: Prime Minister Dr Terrance Drew has signed a major agreement with the African Export-Import Bank (Afreximbank), as a step towards improving  infrastructure and education in St Kitts and Nevis. This agreement was signed during his visit to Grenada for the AfriCaribbean Trade and Investment Forum (ACTIF2025) on July 28. It prioritizes the government’s push for a better and more inclusive society, by providing more modern and secure facilities for all.

The government presented a “Heads of Terms” agreement to secure up to USD 50 million, which will be used under the climate-linked fund, termed as “Education Construction and Rehabilitation Climate Linked Facility.” This initiative aims to use the funds for the development of climate resistant schools and other key social infrastructure across the twin island nation. 

Strengthening Africa-Caribbean Ties

During his address on the first day of the forum, Prime Minister Drew noted that the agreement goes beyond financial terms. He said, “This agreement represents more than financing, it represents our vision for a stronger, more resilient St Kitts and Nevis. We are laying the foundation today for generations to come to access quality education and vital services, regardless of their geographic or economic background.”

In addition, this new agreement sets the stage for more discussions and final arrangements. It shows Afreximbank’s confidence in the development plans of St Kitts and Nevis, with next steps including collaboration between the African Export-Import Bank (Afreximbank) and the twin island Federation to determine the structure and terms of the financing.

Moreover, the signing of the agreement at the ACTIF2025 also brings forward the growing relationship between Africa and the Caribbean region. It highlights St Kitts and Nevis at the forefront in terms of global issue resolution through local action.

Members of the high-delegation led by PM Drew

During his visit to Grenada for a two-day run of the AfriCaribbean Trade and Investment Forum (ACTIF2025), on July 28 and 29, he is also joined by Samal Duggins (Minister of Agriculture et al), Carlton Pogson (resenting the Ministry of Finance), Naeemah Hazelle (Permanent Secretary in the Prime Minister’s Office), and Sherema Matthew (Director of the St Kitts and Nevis Information Service).