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  • MP Bowen says speedy legislative moves to sell off Russian yacht prove that Browne regime is cash-strapped

MP Bowen says speedy legislative moves to sell off Russian yacht prove that Browne regime is cash-strapped

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(REAL News) — Further to their walk-out from the Lower House on Thursday, March 16, St. Phillip South MP Sherfield Bowen says the United Progressive Party parliamentarians cannot support the Government’s proposal to amend the Port Authority Act.

An attorney by profession, Bowen says the Browne Administration could not simply hand the Opposition MPs the proposed stipulations this morning and expect them to engage in a debate shortly thereafter.

Bowen explains that he and his colleagues were given the Bill only minutes before the debate began, and he stresses that they needed time to thoroughly peruse the document beforehand.

According to the St. Phillip South representative, the proposed legislation seeks to amend the Act and give the Government the right to seize any ship that is stranded in the country’s waters; sell it after 10 days’ public notice; and keep the proceeds, regardless of any bank liens that might be attached to the vessel.

The proposed amendments are related to the disposal of a 269-foot luxury vessel, the Alfa Nero, purportedly owned by a Russian oligarch, that has been moored at the Antigua Yacht Club Marina in Falmouth Harbour since February 2022.

Bowen posits that the intention of the Administration to change the legislation to allow it to auction the ship shows the Browne regime is cash strapped.

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Earlier this month, the Administration announced that the vessel had been prevented from leaving the port.

This was because an official search was needed to determine whether the ultimate beneficiary owner had been named on international sanction lists, following the Russian invasion of The Ukraine.

Bowen was questioned on the allegation that the Government is trying to sell the ship in an effort to counter the dwindling revenue from the Citizenship by Investment Programme (CIP), partially because of a crackdown by the United States authorities.

If the US government did, in fact, authorise the sale of the vessel, then the agreement should be included in the Bill, Bowen says.

He adds that any proposed proceeds from the ship should go to the Ukranian authorities, and any asset deemed to be in connection with the war should go to the Ukraine government and not the Government of Antigua and Barbuda.

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One response to “MP Bowen says speedy legislative moves to sell off Russian yacht prove that Browne regime is cash-strapped”

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]