Prime Minister of St. Kitts and Nevis, Dr. Terrance Drew, has urged credit unions across the Organisation of Eastern Caribbean States (OECS) to take a leading role in confronting the multiple crises facing the region. Speaking virtually to the 18th Annual OECS Credit Union Summit from New York, where he is attending the 80th Session of the United Nations General Assembly (UNGA80), Dr. Drew described the credit union movement as a “cornerstone of economic resilience.”
Delivering remarks under the theme “One Vision, One Future: OECS Credit Unions Growing Together,” Dr. Drew commended the sector for its people-centred approach to financial empowerment but warned that new challenges require fresh strategies. “Post-COVID economic recovery, climate change, geopolitical tensions, imported inflation, and regional instability are existential threats that demand coordinated and innovative solutions,” he said.
The Prime Minister highlighted the increasing toll of climate change, pointing to irregular rainfall patterns, weakened food security, stronger hurricanes, rising seas, and the persistent sargassum crisis. He called for credit unions to play a pivotal role in safeguarding livelihoods and supporting adaptation efforts.
The 18th OECS Credit Union Summit, currently being held in St. Kitts, has drawn cooperative stakeholders from across the Eastern Caribbean to exchange strategies, deepen collaboration, and reaffirm the sector’s role in inclusive development. Dr. Drew encouraged participants to embrace collaboration as a tool for resilience, noting that the cooperative model is uniquely positioned to anchor local economies and inspire regional unity.
As the summit continues, discussions are expected to focus on strengthening the financial cooperative sector to address emerging economic and environmental pressures while advancing regional growth.
Photo: Office of the Prime Minister
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