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Antigua to suspend sale of citizenship to Russia and Belarus

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(Observer by Newsco) — Applications from nationals of Russia and Belarus to Antigua and Barbuda’s Citizenship by Investment Programme (CIP) will be suspended from March 31.

This after Prime Minister Gaston Browne told US government officials that he had previously been unaware that several applications from Russian nationals had been accepted.

On February 25, following a request by the United States officials, a number of Caribbean countries which offer CIPs — namely Antigua and Barbuda, Dominica, Grenada, St Kitts & Nevis and St Lucia — agreed to suspend the processing of applications from Russians and Belarusians, with Grenada given until March 31 to do the same.

However, Browne, along with the Chief Executive Officer (CEO) of the Citizenship by Investment Unit (CIU), Charmaine Donovan, met with the US Treasury Department and disclosed that several applications from Russians had been accepted by the CIU and that these applications had already entered the process of enhanced due diligence.

The government stated that given the circumstances, it will adopt the same arrangement as Grenada and have informed all their relevant agents and agencies of this deadline.

Due to the Russia’s acts of aggression in Ukraine, both territories and its citizens of Russia and the nation of Belarus which is a Russian-allied state, have been put under sanctions by the governments in the European Union and the United States.

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Additionally, the European Parliament has sought to see the end of CIP programmes by claiming they were a threat to European national security.

That was despite repeated assurances from countries with CIPs that European officials were invited to audit the programmes.

Antigua and Barbuda and the four other CIP Eastern Caribbean countries agreed on the implementation of six new ‘principles’ at a meeting with the US officials, aimed at bolstering their respective CIPs amid intense scrutiny from the European Parliament.

The principles suggested by US representatives, acknowledged that dismantling the programmes could have a detrimental socioeconomic effect on the countries, considering their contribution to national revenue.

Chairman of Grenada’s CBI Committee, Richard Duncan, spoke to Grenadian news media this week and explained the principles, including the “shared denial of applicants which meant where an applicant denied in one country … should not be considered in another country … there is the principle of the audit, that is these programmes needed to audit annually or at least [bi-annually].

“There was also the principle of using the [Financial Intelligence Unit] … where no applicant should be given consideration until cleared by the FIU of each territory,” he added.

Other principles included how to interview applicants and the need to partner with international agencies to recover recalled passports.

Within the next four to six months, representatives from Antigua and Barbuda will meet with its counterparts to hold a technical meeting on the impact of the agreed principles.

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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]