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BASSETERRE, ST. KITTS — In what is now being described as one of the most reckless financial arrangements in the history of St. Kitts and Nevis, official bank memos have revealed that Christophe Harbour Development Company Ltd received a staggering EC$130 million in UNSECURED LOANS from two major government-affiliated financial institutions — SKNA National Bank and the Sugar Industry Diversification Foundation (SIDF).

Documents confirm:

• In 2013 and 2014, Christophe Harbour secured multiple multi-million-dollar loans from both entities — without putting up a single cent in security or collateral.
• From the National Bank alone, loans totaling US$22 million (EC$59.4 million) were disbursed:
  • A US$16 million loan for Phase I of the Marina (Loan #1041990543).
  • A US$6 million loan for a Marina Service Building (Loan #1041990576).

The SKNA National Bank, a publicly held institution, disbursed these massive sums despite zero security, even as internal documents plainly admit:

“The Bank did not receive details on the total cost of the slip.”
“Loan repayment was to be tied to speculative sales from marina slips.”
“Review dates have passed with no enforcement.”

Furthermore, Christophe Harbour’s repeated requests for extensions — some granted — reveal a pattern of delays, unpaid principal, and no credible repayment plan. By the time one loan matured in June 2018, only eleven slips had been sold, and the bank was left holding EC$40 million in outstanding debt tied to that one facility.

The SIDF — already under scrutiny for lack of transparency — is also reported to have provided tens of millions more, bringing the total exposure to EC$130 million.

NO LAND. NO BUILDINGS. NO INSURANCE. NO GUARANTEES.

This wasn’t just poor banking. It was institutional recklessness, all enabled under the watch of political and financial leadership tied to the state.

Meanwhile:

• Public clinics like Mary Charles Hospital are without ambulances.
• Healthcare workers are underpaid and overworked.
• Basic infrastructure is in decay.

Yet, Christophe Harbour developers were gifted EC$130 million, with zero security, for luxury projects while ordinary citizens suffer under the weight of neglected public services.

How was this allowed to happen?
Who authorized these unsecured payouts?
And how much, if any, has been recovered?

These are not just financial questions — they are questions of justice, governance, and accountability.

The people deserve answers.
The people deserve better.

Stay tuned for Part 2 of our investigation:
“Who Signed Off? The Political Players Behind the Christophe Harbour Giveaway.”

#UNSECUREDMillions #ChristopheHarbourLoans #EC130MillionExposed #PublicRiskPrivateGain #AuditTheSIDF #NationalBankBetrayal #WhereIsTheMoney #SKNDeservesAnswers