The Labour Party administration remains committed to leveraging Citizenship by Investment (CBI) revenues for the benefit of the citizens and residents of St. Kitts and Nevis. This was the message conveyed by Prime Minister and Minister of Finance, Dr. Terrance Drew, as he addressed representatives from various media outlets on Wednesday, 20th November.
Dr. Drew detailed the allocation of CBI profits under his government’s leadership, highlighting key investments aimed at modernising infrastructure, supporting vulnerable populations, and strengthening essential services.
The prime minister noted that CBI revenues have been strategically channelled into upgrading the country’s roads, public facilities, and other vital infrastructure to improve citizens’ quality of life and attract further investment.
In addition, the Drew administration has prioritised initiatives to support the nation’s most vulnerable, enhance educational opportunities, and improve healthcare services across the Federation. Major investments have also been directed towards providing financial relief through energy subsidies, helping to shield residents from volatile global energy prices and ensuring energy security.
CBI funds have played a crucial role in stabilising the Development Bank of St. Kitts and Nevis, enabling the institution to meet creditor obligations while continuing to provide critical financial services to citizens, Dr. Drew shared.
Dr. Drew also reaffirmed his government’s commitment to tackling underselling within the CBI programme. By criminalising the sale of citizenship below the mandated minimum investment, the administration has set a regional benchmark, safeguarding the programme’s integrity and ensuring its sustainability.
Restoring the credibility of the CBI programme has been a top priority for the Drew-led government, recognising its importance to the nation’s economic development. Dr. Drew underscored the administration’s zero-tolerance approach to corruption, pledging transparency and accountability to ensure the programme serves the Federation’s best interests.
“Our administration views the CBI programme as a driver of national progress,” Dr. Drew asserted. “It’s not about enriching a privileged few but about building a stronger, more prosperous St. Kitts and Nevis for everyone. Every dollar generated through this programme is being used to benefit our people.”
The prime minister’s remarks reflect his administration’s emphasis on using CBI revenues as a foundation for sustainable growth and long-term prosperity.
Photo: PM Dr. Terrance Drew, Minister Konris Maynard, and contractor Alexis Hazel assessing ongoing infrastructure projects.
Be the first to comment on "PCBI Profits Used for Nation-Building, Says PM; Commits to Continued Transparency"