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Kingdom of Saudi Arabia Hosts Inaugural Summit of CARICOM Leaders and Investment Forum

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Salman bin Abdulaziz Al Saud, King of Saudi Arabia, has extended a distinguished invitation to host the inaugural Summit of the leaders of the Caribbean Community (CARICOM). Scheduled for November 16, in Riyadh, this high-level Summit will be followed by an Investment Forum on November 17, marking a momentous occasion for the Caribbean region.

The Summit, co-chaired by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, and Roosevelt Skerrit, Prime Minister of Dominica and Chair of the CARICOM Conference of Heads of Government, aims to foster meaningful bilateral and multilateral engagements with a non-traditional partner.

The Summit saw a strong representation from Antigua and Barbuda. The delegation of Antigua and Barbuda is composed of Ambassador Jefferey Hadeed (NonResident Ambassador to Italy), Ambassador Boris Latour (Ambassador to the United Nations in Geneva, to UNESCO and Ambassador-designate to France and Switzerland), Ambassador Colin Murdoch (OECS Ambassador to WTO), Ambassador Sami Al-Mufleh (Ambassador to Jordan), Ambassador Boustany (Ambassador to the UAE), who are all actively participating in the diplomatic dialogue.

The Prime Minister instructed his delegation to remain focus on fostering economic development for Antigua and Barbuda. The Ambassadors have also engaged into productive discussions with Saudi private sector’s leaders to attract Foreign Direct Investment into the country.

During the Summit, leaders have engaged in focused, in-depth discussions on mutual concerns at bilateral, interregional, and global levels, seeking to enhance economies, mobilize resources, build capacity, and create innovative opportunities for the Caribbean Community.

The Summit will establish permanent and effective arrangements through the CARICOM-Saudi Arabia Forum, promoting shared principles, increased people-topeople contact, cultural heritage preservation, and addressing mutual concerns, including development issues and infrastructure challenges in the region.

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Key areas of collaboration and discussion are including Agriculture and Food Security, Transportation, Renewable Energy, Health, Education, Climate Change and Finance, Tourism, and Investment. The CARICOMSaudi Arabia Forum aims to deepen existing cooperation, sustain innovation, advance investment and trade, and address mutual concerns through well-established mechanisms.

This historic event represents a pivotal step towards fostering a strong and enduring partnership between the Caribbean Community and Saudi Arabia, setting the stage for mutually beneficial collaboration and progress.

Fostering trust, mutual respect, open dialogue, and communication are essential pillars that will underpin the historical Summit between CARICOM Member States and Saudi Arabia.

This landmark event, co-chaired by Prince Mohammed bin Salman bin Abdulaziz Al Saud and Roosevelt Skerrit, reinforces the commitment to meaningful partnership and highlights the crucial need for expanded international relationships.

Technical cooperation and assistance will play a vital role in advancing the capacities of CARICOM Member States and associated institutions to promote socio-economic development.

During the Summit, Member States will explore opportunities to leverage Saudi Arabia’s resources, expertise, and financial capabilities across various sectors, including renewable energy, public health, education, and climate change adaptation. As global challenges loom large, the Summit underscores the necessity for expanded international relationships beyond traditional focuses and the significance of deeper engagement with Saudi Arabia in addressing these critical issues.

The CARICOM-Kingdom of Saudi Arabia Summit represents an unprecedented step in fostering a lasting partnership, addressing shared challenges, promoting economic growth, and nurturing cultural understanding.

This collaboration signifies a devoted commitment to sustainable development, resilience against economic shocks, and the advancement of meaningful innovations. Demonstrating a strong commitment to the region, the Kingdom’s ministerial cabinet has resolved to create a USD 1 billion fund dedicated to investments in the region, with intentions for the fund to become operational within the coming months.

This achievement stands as a testament to the vision and leadership of Prime Minister Gaston Browne, who has been instrumental in advancing this project from its inception.

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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]