St. Kitts and Nevis PM Drew’s Administration Faces Backlash after plunging country into EC$300m Debt Over Solar Project Financing in just 1st year of Office

In a surprising turn of events, the administration led by Prime Minister Drew of St. Kitts and Nevis has come under scrutiny for its handling of a significant solar plant project. The administration’s decision to secure a loan of EC$300 million from Afreximbank for the solar plant project has raised eyebrows, especially considering that the previous administration, led by Dr. Timothy Harris, had already secured funding for the same project without cost to taxpayers or the country.The project, which promised cost-saving, clean-energy solutions, was poised to be a groundbreaking initiative for the nation. In 2022, Mr. Bryan Urban of SOLEC, the company responsible for the project, expressed their commitment to a 20-year contract with SKELEC, underscoring the potential benefits.Critics have questioned the rationale behind Prime Minister Drew’s administration scrapping a project that was ready to roll out, incurring potential damages from breach of contract while simultaneously burdening citizens with increased taxes. This decision comes in stark contrast to the previous administration’s efforts, which had already secured funding for the project, avoiding any financial strain on the nation.The move to accumulate a debt of US$100 million for the solar plant project, coupled with uncertainties about interest rates, has ignited concerns about the economic impact on St. Kitts and Nevis. As citizens grapple with the implications of these decisions, it remains to be seen how Prime Minister Drew’s administration will address the criticisms and navigate the financial challenges ahead.

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