PM Dr Drew announces CBI funds for national developmental projects. Picture Credits: Fb accounts

PM Terrance Drew announces CBI funds for national developmental projects

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Basseterre, St Kitts and Nevis: The administration made a crucial decision to forgo the CBI dividend with a vision to utilize these funds to prioritize significant national projects. The projects will play a huge role in investing in the Development Bank and hurricane preparedness in order to avoid any future uncertainty.

Prime Minister of St Kitts and Nevis, Dr Terrance Drew made an announcement during the press conference where he emphasised on their unwavering commitment towards the physical and financial survival of the nation.  He further asserted that the CBI dividend which was committed to being paid twice yearly depends on a surplus from the CBI receipts after all the financial obligations are met.

The leader of the nation also added that it has two dividends and one resent paid so far and with this, the island nation became the first and the only country to implement such system. However, he remarked that because of recent adjustments of the CBI and the need to meet critical obligations, a surplus was not realised this period.

While shedding light on those obligations, PM Drew stated that firstly it includes saving the Development Bank which will further extend indirect support to the social security of the Federation of St Kitts and Nevis. Following that, the government will made investment of $50 million on the construction of the desalination plant which is set to commence soon in the nation.

After that, the government will allocate the funds in order to prepare for an active hurricane season to diminish its devastating effects. PM Drew stated it is crucial to follow all these obligations for the growth and development of the nation.

Moreover, the leader of the nation also stated that his government would continue to make efforts in order to enhance the integrity and transparency of the programme. He stated that they would continue to make crucial decisions which proved to be best for the welfare of the citizens. He also promised to prioritize initiatives that safeguard the well-being and future of the Federation of St Kitts and Nevis.