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St. Kitts and Nevis Information
St Kitts Receives Loan from EU Investment Bank
2010-12-24 20:25:12 by
The European Investment Bank has agreed to lend St Kitts $8 million, to help finance public and private projects during the ongoing global economic crisis. Elvis Newton, Chairman of the Development Bank of Saint Kitts and Nevis, said the loan will help create jobs, boost foreign-exchange earnings, and stimulate the local economy.
About $1 million of the loan is slated for renewable energy projects.
Last year, St. Kitts ranked third worldwide in terms of public debt, which indicates how much state spending is financed by borrowing and not taxation.
(resource: BloombergBusinessWeek.com)
About $1 million of the loan is slated for renewable energy projects.
Last year, St. Kitts ranked third worldwide in terms of public debt, which indicates how much state spending is financed by borrowing and not taxation.
(resource: BloombergBusinessWeek.com)