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  • Payment of the ‘double salary’ will help to stimulate economy, St. Kitts and Nevis PM says

Payment of the ‘double salary’ will help to stimulate economy, St. Kitts and Nevis PM says

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Civil Servants, Government Auxiliary Employees (GAEs), Pensioners and STEP workers across St. Kitts and Nevis have benefited from an extra month’s salary, which was paid on Tuesday — a gesture Prime Minister Dr. Terrance Drew said was made to show appreciation to public servants for their hard work.

Prime Minister Dr. Drew, while speaking on WINNFM’s Voices programme, stated that the payment of the extra month’s salary, or a ‘double salary’ as it is colloquially termed, was also made to help stimulate the Federation’s economy.

“The economy needs stimulation as well and we have to stimulate the economy,” the Prime Minister said. “You as public servants…have worked hard. You have put yourselves out there and I think that you needed to have been shown, in a tangible way, that we appreciate that. But in addition to that, our aim is also to stimulate the economy, to get to people so that they can have a good Christmas, people can spend to help businesses and help all around so that all of us would benefit from that injection into the economy.”

The Prime Minister added that this was also part of the rationale behind his administration’s decision to pay Honoraria to government employees who worked on the frontline during the Covid-19 Pandemic.

Moreover, Prime Minister Drew, who also serves as Minister of Finance in the Federal Government, said the payments of the double salary and the Honoraria are things that the Government is able to manage, particularly as it moves forward with the diversification of the Federation’s economy.

He said, “We’re going to hit hard in the construction field, in tourism. The CBI [Citizenship by Investment] programme right now is heavily dependent on, but we are going to diversify the economy so that we are not so heavily dependent on the CBI alone. You can have CBI, you can have tourism, you have construction, you can have agriculture, you can have energy, you can have financial services and you can have the offshore education sector and so forth. So, we are looking at multiple aspects of the economy that we can develop to make sure that we are receiving the necessary revenues to continue the social programmes and to keep us stable and strong.”

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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]