St Kitts and Nevis: Prime Minister of St Kitts and Nevis- Dr Terrance Drew signed the memorandum of understanding (MoU) with the African Export-Import Bank (AFREXIMBANK) and with President Benedict Oramah on February 17, 2023, during Forty-Fouth meeting of the Conference of the CARICOM Heads of Government.
After the signing ceremony, St Kitts and Nevis become the first member of the Caribbean Community (CARICOM) to sign the memorandum. PM Terrance Drew took to Facebook and shared glimpses of the ceremony.
He stated that the agreement talked about the ways to implement several projects in strengthening renewable energy. The agreements also talked about solar power plants, grid connectivity between Saint Kitts and Nevis in line with the nation’s shared commitment to the development of geothermal energy, and smart metering, among other energy-related initiatives.
The signing ceremony was attended by Ayman Elzoghby, Head of Intra-African Trade and Corporate Finance; Kanayo Awani, Executive Vice President, Intra-African Trade; Christine Beblawy, Regional Commercial Director – Africa, Elsewedy Electric; Moataz Samy, Corporate Treasury Manager, Elsewedy Electric; Temwa Gondwe, Senior Manager, Intra-African Trade Bank; and Vitalis Ekene Uzor, Special Assistant to the President of Afreximbank, along with the delegation of St Kitts and Nevis.
While expressing pleasure, PM Terrance Drew stated that it is coincident that after becoming the prime minister of St Kitts and Nevis, he signed the first agreement also with the Afreximbank in Barabdos. This is the second MoU with the bank but in the matters related to the solar and geothernal energy which will be historic step.
Afreximbank visited St Kitts and Nevis for the first time in November 2022 and the cabinet ministers welcomed them after the successful hosting of the Afro-Caribbean Trade and Investment Forum held in Barbados in September 2022.
Afreximbank is working to introduce CARICOM investors and financial institutions to opportunities in all sectors across Africa as part of its twinning initiatives and investment promotion activities. At the same time, it is exposing African investors to investment opportunities in key sectors identified in CARICOM countries.
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