The recent revelation of a US$100 million loan from Afrexim Bank for a Solar Farm Renewable Energy Project in St. Kitts and Nevis has left citizens eagerly awaiting further details. Despite the bombshell announcement made by the Afrexim Bank CEO during the launch of their CARICOM office in Barbados, Prime Minister Dr. Hon. Terrance Drew and his administration have yet to address the public regarding this substantial financial development.
In contrast, Antigua and Barbuda’s Prime Minister Gaston Browne has taken a different stance, openly rejecting a similar US$100 million loan offer from Afrexim Bank due to what he deems as excessively high interest rates. Browne emphasized that the decision was made in the best interest of the people of Antigua and Barbuda.
As citizens in St. Kitts and Nevis eagerly await more information, there is a growing call for transparency regarding the terms and conditions of the loan, as well as an understanding of the potential debt implications for the country. This is especially pertinent considering that the Solar Farm Project was initially secured under the Team Unity administration at no cost to taxpayers. The public seeks clarity on how this new loan agreement aligns with previous efforts to advance renewable energy initiatives in the nation.