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Antigua Airways principals not in possession of passports

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(POINTE XPRESS) — Information Minister Melford Nicholas has confirmed that the government’s transaction with Antigua Airways was incomplete, and as such no Citizenship by Investment Programme (CIP) files (passports) were given to the principals of the airline.

Ten (10) Antiguan and Barbudan Passports were to be given to the airline’s financiers that would have represented a 20% stake in the carrier for the government of Antigua and Barbuda, once final arrangements were completed for it to operate commercially.

The Cabinet spokesman told reporters on Thursday, that the suspension of operations while still in the charter stage, meant the Citizenship by Investment files were not given to the Africans.

“The option, once the airline was established for Antigua to retain an equity position, the route of utilising the funding through the CIP, would have been the method of acquiring those shares. Neither option took place. Neither did the government subscribe, because the airline was not effectively established, nor that the files were made available to Marvelous Mike.”

The non-compliance of several regulatory requirements resulted in the government suspending charter service between Nigeria and Antigua and Barbuda that was inaugurated in November 2022.

Minister Nicholas pointed out that the transaction would have been completed once the carrier was fully established. However, the prevailing circumstances mean government has retained the 10 CIP files.

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“I want to reassure you and the public that there has been no loss. Antigua had never subscribed. The option was available to the Government of Antigua and Barbuda once the airline was established.

This venture of Antigua Airways utilising the charter means as a precursor to the full establishment of the airline, was I think, what the PM was referring to and with the adverse publicity that has come with that particular venture, it is clear that that airline proposition would no longer be feasible. So, there is no loss here to the government and people of Antigua and Barbuda,” Minister Melford Nicholas assured.

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]