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St Kitts Government to present national budget on Wednesday

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St Kitts and Nevis Prime Minister Dr Timothy Harris will present the 2019 national budget to Parliament on Wednesday, indicating already that the economy of the twin island Federation “is at its all-time best’.

Last year, Harris tabled a fiscal package of EC$516.7 million and he says the prospects for 2019, and the medium term, are for continued positive above-average economic growth.

“This will be the fourth year in a row under our administration that the country would have recorded positive growth. The healthy fiscal position of the government indicates that we have achieved the best ever debt-to-GDP (gross domestic product) ratio over the past 25 years.

“We have posted a surplus on the recurrent account, a surplus on our overall account, and the primary balance attests to the fiscal and economic well-being of St. Kitts and Nevis,” Harris said ahead of the presentation on Wednesday.

He said as a result, the government is undertaking a number of policies including .the launch of the Poverty Alleviation Programme (PAP) on December 21 that is designed to provide this special stipend of EC$500 every month to vulnerable households that earn less than EC$3000 per month across St. Kitts and Nevis.

He said public servants will also receive, for a third consecutive year in a row, a double salary on December 14 and that the government will restore and pay the annual December holiday pay to the Government Auxiliary Employees (GAEs) or non-establishment workers on December 14.

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Harris said that during the month of December there will be a duty-free concessions on the importation of barrels and boxes of food stuff up to 400 pounds. He said also that goods with a value up to US$200 or EC $540 will also attract no duty.

Harris said on Tuesday, that the country will welcome the largest tourist vessel in the world and the authorities will also official open the new East Bus Line Terminal.

“This new terminal has already attracted rave reviews from our citizens at home and abroad, impressed as they are by the sheer beauty of the facility and the enhanced convenience and protection afforded to members of the travelling public. Good things are happening here in St. Kitts.”

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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]