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TERMS OF REFERENCE (ToR)
REF. no:
(Consulting Services – Accountant)
Background
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to MSMEs in the Eastern Caribbean Currency Union (ECCU). The programme provides guarantees of up to 80% on loans made by private sector lenders to qualifying micro, small and medium enterprises (MSMEs). ECPCGC became operational in 2020 and its staff is working with banks in the six nations that comprise the ECCU. In general, both banks and MSMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide. The process is that the entrepreneurs approach the financial institutions for loans, armed with their financial documents, projections, business history, and a clear idea of the purpose of the loan. The institutions would review the documents, adjudicate the loan, and if approved, send an application to ECPCGC for a guarantee to make up for the collateral deficit. In the absence of proper records, the financial institutions are unable to complete their assessments.
The Current Issue
The banks have cited the following issues that are prevalent among the customers:
Consequently, the institutions have requested that the clients get their files organized so that proper assessments may be made of the businesses and the need for financing. Many clients are cash constrained and are unable to afford the fees for an accountant to prepare the requisite statements. They, therefore, do not return to the banks with the documentation and so lose out on the opportunity to participate in the guarantee programme.
As the economies rebound from COVID 19, it is expected that the demand for guarantees will pick up, and there may be many more under prepared clients trying to access the guarantees. ECPCGC will send referrals to the accountant so that the required reports can be prepared for submission to the financial institutions.
The Purpose of the Assignment
ECPCGC is looking to obtain the services of an experienced accountant who has worked with MSMEs nationally and has experience in creating financial reports and projections from incomplete records.
The consultant would have the following responsibilities:
Fees will be paid on a “per client” basis.
Requirements
The ideal candidate will have a minimum of 10-15 years of accounting experience and would have substantial prior engagement with MSMEs.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, two professional references on or before May 24, 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-293793-CS-IDV in the subject line of the email.
Key Personnel
The following are key organizational staff that you may contact regarding any questions on the position:
Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]
Terms of Reference for Marketing/Technical Assistance Expert for the Eastern Caribbean Partial Credit Guarantee Corporation
May 2022
Background
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to SMEs in the Eastern Caribbean Currency Union (ECCU). The scheme provides guarantees of up to 75% on loans made by private sector lenders to qualifying small and medium enterprises (SMEs). The scheme recently became operational and is working with banks in the six nations that comprise the ECCU. In general, both banks and SMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide.
The Current Issue
The ECPCGC was designed with a staff of four to five people to handle marketing, processing guarantee applications, and monitoring lender performance. During the initial operational phase, the need for training and implementation of the web portal has stressed the ability of the staff to keep up with day-to-day activities as well as handle the training. While the current staff has provided training on the web portal and terms and conditions of the guarantee scheme, it is likely that loan officers will have questions regarding both the terms and conditions of the scheme and web portal operations when they use the program for the first time.
The Covid virus has slowed business on the islands, including the requests for bank lending. When lending picks up, it is likely that loan officers will have questions regarding program operations and using the web portal. In addition, one of the concerns banks raise repeatedly is that many applications are not complete when submitted, requiring substantial additional time to get all of the information in a format that can be used for a credit application.
The Purpose of the Assignment
The ECPCGC is looking for an experienced bank or non-bank loan officer who has worked with SMEs in the Caribbean region and has experience in the Sales and Marketing of financial products. The consultant would have five main responsibilities.
Requirements
The ideal candidate will have a minimum of 10-15 years of SME lending experience in the Caribbean region, preferably in the countries of the ECCU.
Experience with marketing, sales, and/or working with a guaranteed lending scheme would be beneficial.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, two professional references, and a current Police Certificate of Good Character on or before May 20, 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-292033-CS-INDV in the subject line of the email.
Key Personnel
The following are key organizational staff that you may contact regarding any questions on the position:
Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]
Terms of Reference for Marketing/Technical Assistance Expert for the Eastern Caribbean Partial Credit Guarantee Corporation
April 2022
Background
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to SMEs in the Eastern Caribbean Currency Union (ECCU). The scheme provides guarantees of up to 75% on loans made by privatesector lenders to qualifying small and medium enterprises (SMEs). The scheme recently became operational and is working with banks in the six nations that comprise the ECCU. In general, both banks and SMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide.
The Current Issue
The ECPCGC was designed with a staff of four to five people to handle marketing, processing guarantee applications, and monitoring lender performance. During the initial operational phase, the need for training and implementation of the web portal has stressed the ability of the staff to keep up with day-to-day activities as well as handle the training. While the current staff has provided training on the web portal and terms and conditions of the guarantee scheme, it is likely that loan officers will have questions regarding both the terms and conditions of the scheme and web portal operations when they use the program for the first time.
The Covid virus has slowed business on the islands, including the requests for bank lending. When lending picks up, it is likely that loan officers will have questions regarding program operations and using the web portal. In addition, one of the concerns banks raise repeatedly is that many applications are not complete when submitted, requiring substantial additional time to get all of the information in a format that can be used for a credit application.
The Purpose of the Assignment
The ECPCGC is looking for an experienced bank or non-bank loan officer who has worked with SMEs in the Caribbean region and has experience in the Sales and Marketing of financial products. The consultant would have fivemain responsibilities.
Requirements
The ideal candidate will have a minimum of 10-15 years of SME lending experience in the Caribbean region, preferably in the countries of the ECCU.
Experience with marketing, sales, and/or working with a guaranteed lending scheme would be beneficial.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, two professional references, and a current Police Certificate of Good Character on or before May 3, 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-156400-CS-INDV in the subject line of the email.
Key Personnel
The following are key organizational staff that you may contact regarding any questions on the position:
Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]
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.
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:
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
Bird Rock, Basseterre,
St. Kitts.
Expressions of interest must be delivered in a written form by e-mail by August 25th, 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
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 small and medium-sized businesses, knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, or related field; and a minimum of 5 years’ experience in MSME lending in a financial services institution. The initial contracted employment period will be for two years subject to a performance review and an expression of further contracted employment three months before the expiration of the existing contract. The assignment is expected to begin on April 15, 2021.
The consultant will report directly to the Chief Executive Officer of the ECPCGC and the ECPCGC Board of Directors.
The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below.
https://tinyurl.com/yygezdt9
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:
Applicants should also have:
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.
Expressions of interest must be delivered in a written form by e-mail by February 16, 2021 to [email protected]
Eastern Caribbean Partial Credit Guarantee Corporation
Brid Rock, Basseterre,
St. Kitts.
For further information, please contact:
Carmen Gomez-Trigg Bernard Thomas
Chief Executive Officer Chief Financial Officer
Tel: 868-620-8144 Tel: 869-765-2385
Economic Advisory Services – Project Management Consultant Terms of Reference
Antigua and Barbuda
Terms of Reference
Job Title |
Project Management Consultant |
Date of Issue
|
September 25, 2020 |
Deadline for application
|
December 1, 2020 |
To Apply |
Suitable candidates are invited to submit the following documents: cover letter and a curriculum vitae (CV) with contact information for three (3) references. Email the copy of the above referenced documents to [email protected] or mail to the following address: Procurement Officer NDC Partnership Support Unit c/o World Resources Institute 10 G St NE, Suite 800 Washington, DC 20002 Please use email subject line: “Project Management Consultant” |
Contracting Authority |
Department of Environment |
Duration of Contract
|
Short-term contract for 1 year |
Country
|
Antigua and Barbuda |
BACKGROUND
The Government of Antigua and Barbuda (GOAB) is to receive funding from the NDC Partnership to enhance its economic planning and recovery efforts and its response to both the COVID-19 pandemic and climate change. The GOAB recently established an Economic Recovery Commission (ERC) in the wake of the pandemic. It comprises public-private stakeholders, who advise the Cabinet of Antigua and Barbuda on the long-term economic recovery of Antigua and Barbuda, including avenues to stimulate development and create jobs. The support of the NDC Partnership and its implementing partners will complement the work of the ERC.
Funding from the NDC Partnership will go towards the operationalization of a Project Management Unit (PMU) for the Ministry of Finance and Corporate Governance that will help the country to design and implement low-
carbon and climate resilient projects in line with the Nationally Determined Contributions (NDCs) under the ParisAgreement. This assistance will strengthen the country’s capacity to develop and execute interventions that address the adverse effects of climate change and improve its ability to attract climate finance.
The PMU within the Ministry of Finance will be tasked with coordinating the implementation of transformative projects for the building, road and finance sectors; and adaptation interventions. The PMU has to implement projects with oversight from the Department of the Environment (DOE) — an Accredited Entity (AE) to the Green Climate Fund (GCF). The PMU must also work with Executing Entities (EE) and other implementing partners. The PMU will consist of one or more Project Managers, one or more Project Coordinators, Project Component Coordinators, a Financial Officer, a Procurement Officer, an Environmental and Social Safeguards Officer, a Knowledge Management Officer, a Monitoring and Gender Officer, and an Administrative Officer.
Objectives of the Assignment
The objective of the assignment is to acquire the services of an experienced and qualified Project Management Consultant, who will be responsible for setting up and operationalizing the PMU. The Consultant will be required to set up and prepare for the operation of new projects while the project staff are being hired. The Project Management Consultant should have a proven track record of supervising and managing relevant projects. The Consultant will take responsibility for building the PMU’s capacity for planning, coordinating, and implementing low-emission and climate resilient projects. Also, the PMU will be required to carry out monitoring and evaluation and reporting functions. The Consultant will be based in the Ministry of Finance. The contractual period is expected to last for 12 months at which time the PMU should be established, and any new projects assigned will be in full operationalization and implementation phase.
Scope of Work
The Project Management Consultant will carry out specific duties and responsibilities under the general direction of the Ministry of Finance. The Project Management Consultant will:
Economic Advisory Services – Project Management Consultant, Antigua and Barbuda 2 October 2020
monitoring and reporting
Develop
provide initial oversight for the PMU staff in the execution of their respective duties, including
During this contract period, if the PMU has to implement a project, the Project Management Consultant will be provided with more detailed tasks.
Indicative Deliverables |
Timeline |
Detailed Workplan |
Within 2 weeks of signing contract |
PMU structure and work programme |
December 2020 |
Training and capacity building plan |
Within 1 month of signing contract |
Four (4) training workshops conducted |
November 2020 December 2020 February 2021 March 2021 |
Draft Project Operations Manual with policies, procedures and a fuctional project management system |
July 2021 |
Final Project Operations Manual |
August 2021 |
Final report on achievement of the objective of the consultancy and status of deliverables |
September 2021
|
Institutional Arrangements and Reporting
The Project Management Consultant will work under the guidance and supervision of the Permanent Secretary of the Ministry of Finance. The Project Management Consultant will provide oversight of the Project Management Unit and shall liaise with the government, NDC Partnership, donor agencies and other key stakeholders. The Project Management Consultant shall also collaborate with the Economic Advisor and the Climate Finance Analyst during the execution of his/her tasks and responsibilities.
Education, Experience, Skills and Abilities
The Project Management Consultant should possess the following qualifications:
Economic Advisory Services – Project Management Consultant, Antigua and Barbuda 4 October 2020
Invitation to Tender
Construction of Airport Heliport
Details:
Property located at the Eastern end of Runway 10 has been designated for a helicopter landing area. This tender is being offered for the construction of a helicopter landing pad as well as a 4 office building.
The area will require preparation and landing area constructed in accordance with ICAO and ECCAA regulations as well as logistically designed for maximum safety and benefit.
Requirements:
Deadline:
All bids must be submitted to [email protected] by 20 Nov. 2020. All enquires with regard to tender should be addressed to the above email.
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:
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]
UK’s Removal of Visa Free Access C.I.P The Beginning Of The End
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By Lennox Weston
When countries in the Caribbean introduced the Citizen by Investment Program or CIP, there was heavy political discussions in the various parliaments and in the body politics of OECS countries
The Caribbean governments, having mismanaged their finances, found themselves in IMF fiscal reform programs or in a debt squeeze that required immediate cash injection to avert social dislocation and political unrest.
The dire need for finances was used to support a call for the introduction of CIP against strong emotive calls to respect the historic struggle and sacrifice of past generation who, through Blood Sweat and Tears, overcame slavery colonialism to gain political Independence and for Nationals to receive citizenship.
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Converting citizenship to a commodity cheaply sold to individuals of a different culture and race didn’t seem respectful of the historical struggle for Independence and the value of citizenship.
All the government in the OECS, except for Saint Vincent, implemented their own CIP programs.
In Antigua and Barbuda, the need to repay the IMF loan frittered away by the Upp government with no observable investment that could generate the repayment of the IMF loan, coupled with large trade debts some of which threatened the continued supply of electricity, water and continued access to Chinese financing and Caribbean Development Bank requires substantial financing.
Collapse of billion-dollar ABI Bank
Additional challenges included an insolvent social security system, the collapse of the billion-dollar ABI Bank the largest indigenous Bank, crumbling Seaport both cargo and cruise and incomplete Airport.
There was need to equip the hospital with critical equipment and to rebuild the road network in the country and to repair and maintain several government buildings, as well as to ensure the University of the West Indies could become a reality. The need for immediate financing became critical.
In Antigua the new Labor party government which took over in 2014 and which was initially against the sale of passports, changed it’s policy position when it came to power and had to face up to a nation state on the brink of collapse and on the brink of becoming a failed state with disastrous consequences for all citizens.
The government decided to implement a well-ran and managed CIP program with the objective of generating significant investment capital that would form the basis of a sovereign wealth fund that could be used for productive investment purposes and to correct the fundamental challenges listed above. It was always understood that the CIP program would last at best 10 to 15 years and selling of citizenship while obnoxious to many could be justified if the resources were used to preserve the independence, the survival, the development and sustainability of our independent nation state.
Several good Investments
Therefore, the objective of the CIP program was to maximize the generation of Revenue to be utilized in a sovereign wealth fund that would provide a revolving investment financing to augment private capital investment and to provide capacity in disaster mitigation and resilient financing as well as to shore up financing gaps in the recurrent National budget.
Some countries were more successful than others with annual CIP National revenues ranging from 80 million dollars to 300 million EC dollars per year, based on figures reported in the media and tabled through a variety of national statements both inside and outside of Parliament by leaders of the various countries.
Antigua and Barbuda was at the lower end of the scale while some countries, notably Saint Kitts and Dominica were reported to be at the upper end of the revenue scale.
Several OECS countries established sovereign wealth fund with significant balances.
In Antigua large current financing gaps, paying back IMF, large debts areas and rescue of Social Security fund and financing the bail out of the banking sector used up most of the CIP financing making the establishment of a sovereign wealth fund difficult.
Several good Investments which continue to yield benefits were made in part supported by the resources of CIP.
University of the West Indies, the equipment of Sir Lester Bird Medical Centre with diagnostic equipment, the dredging of the harbor for cruise and the completion of the airport, as well as paying on time Social Security contributions and the paying down of the IMF loans and servicing the loans from the Caribbean Development Bank, the Chinese loans and the Japanese loans all of which finance important projects in energy, in port infrastructure and in Road and educational Construction.
What’s required now
In essence, the CIP resources were mainly used for highly productive and beneficial investment purposes which continue to yield economic, employment and tax generating benefits to the state. It is true to say that money from CIP program, along with careful Investments of the normal General budget resources generated sustained growth and employment in Antigua and Barbuda.
What is required now is the removal of a policy that de-links the collection of government revenues from economic activities and growth through a series of tax exemptions which dates back to a time when foreign investments were the drivers of growth in our local economy and the need for earning super profits to attract foreign investors was quintessential to sustain growth in the local economy. This is clearly no longer the case.
The UPP party gleefully listed over 24 investment projects which failed to materialize mistakenly assuming that it was a function of poor governance and corruption rather than the drying up of foreign Capital Investments to small micro Island States where the threat of global warming, the obvious risk of a pandemic, the shutting down overnight of Tourism would have led to a conservatism by foreign investors in risking their money in micro Island States prone to be the most disaster risk countries in the world
It is the linking of tax collection to the growth of the economy by removal of exemption policies that would ensure that sufficient revenues are collected to refinance a sovereign wealth fund that is vital to the survival, sustainability and independence of the local economy and independence of our nation state.
The loss of revenue from the CIP program will have a major negative impact on the countries of the OECS with a 15 to 40% reduction in budgetary revenues that could be lost with little opportunity for short-term replacement. The OCES countries, including Antigua and Barbuda, will be challenged to come up with new and immediate solutions.
It was no surprise that the UK government led the assault on the CIP program; Caribbean and African history is replete with the extraction, exploitation of captured lands and repatriation of those profits back to London leaving the colonies undeveloped, no infrastructure, no sustainable industry, no Health Care system, no educational system. From Columbus to Castro and beyond the UK lead the rape of the riches of these islands.
The press release from the UK Embassy stressing it’s friendship to Dominica and OECS generally pointing out it’s generosity of spirit by providing small grants to Dominica in the aftermath of the hurricane was a bit too much to hear and aggravating to the core of our historical soul.
No accident
Seeking to destroy an OECS annual billion-dollar industry and pointing to small ad hoc grants as symbols of friendship required a response in the local dialect developed by our ancestors to curse those who threaten the survival of our children.
It is no accident that this aggressive assault on the viability of the OECS is being led by the UK; the mother of all exploiters, it is also noticeable that when minority leaders emerge in predominantly white countries the aggression towards black countries intensifies as if these leaders of colour are aware they have to demonstrate to the white ruling class that they belong and in spite of their Colour they have no affinity to the countries of origin of their ancestors.
We lost Gaddafi and Libya was destroyed as President Obama tried desperately to prove himself worthy to the white military industrial complex in America.
Leaders of colour in these countries seem always to bow under the pressure to demonstrate they have been converted to the Anglo-Saxon racist agenda of War, exploitation, rape, colonization of Africa, Asia and the Caribbean.
What must the response be to the clear signal of the intention to collapse the CIP program in the OCES because we all know talk of inadequate oversight, poor due diligence and risking the safety of European States are all simply an excuse.
In the UK alone and across Europe, large numbers of migrants leaving those countries from the Arab, African and Asian (including China) part of the world and visit, settle and live in UK and Europe.
The due diligence carried out by the CIP program is done in conjunction with those Visa free countries own due diligence apparatus.
Limitation of CIP programs in the OCES
The evidence after over 10 years of operation of these programs do not support the reported risk to the state and well-being of the countries who normally provide Visa free access.
The war being waged in Europe has nothing to do with Caribbean CIP program or Caribbean migrant or Asian migrants or African migrants or Chinese migrants or Arab migrants no terrorist threats, no mass killings, no major financial fraud or no Bank collapse.
Further no economic collapse and no inflationary spiral have resulted because of the limitation of these CIP program in the OCES.
It is just a normal reaction and inclination to kill any sense of Independence of earnings or competitive economic activity by imposing rules/restrictions, many of which are extraterritorial and designed to keep these countries dependent on the goodness of their handouts after our entire country is devastated by a natural storm or an economic storm not of our own making.
These are the “good citizens, and architects of our economic slavery” keeping their knees pressed to our necks crushing every attempt by the OECS to develop independent means of earning a living and taking care of our people and maintaining our ability to survive as an independent state based on trade and earning our way.
We have heard talks of tinkering with the rules and modus operandi of the CIP programs with the hope of slowing down the date of termination or at least to leave a variant of the CIP program operational albeit with its earning capacity greatly reduced to an insignificant level.
Truth is, this approach will not allow the program to be a major generator of funds.
We have seen this movie before in the offshore sector, the banking sector and the gaming sector where new conditions are imposed everyday, eventually wiping out the sector reducing it to an insignificant source of Revenue, growth and employment creation.
New Areas
Efforts are currently being made to look at several new areas such as crypto currency and blockchain technology and even to Ganja. None of these have shown any real potential to be a significant player in generating the types of revenue that came from the CIP program.
Climate Finance is another area that is presently being explored in attempt to get greater access to low-cost development financing through green climate financing architecture.
Barbados has also been leading efforts to gain support for new global development financing, trade and creative industry architecture dubbed The Bridge Town Accord.
Antigua and Barbuda have been leading efforts to get acceptance of an MVI (Multi-dimensional Vulnerability Index) reenergizing a thirty year old project previously lead by the Common Wealth Secretariat and the Caribbean Development Bank. The MVI seeks to access highly subsidized development financing by introducing the concept of risk, vulnerability and small size in the qualification.
Both efforts are laudable and will generate lots of international meetings and high profile speaking engagements for the leaders and their diplomats. It is very unlikely though, that these two efforts will significantly change the region’s access to large-scale development capital financing. This is simply because developed Nations have constantly promised much but failed to deliver any increased development financing and secondly the level of abject poverty has been defined by the $1 per day rule will always be the first priority for development capital aid by both the bilateral and multilateral funding agencies.
New Development Agenda
Loss of CIP financing will demand an immediate rethinking and reconstruction of our development agenda: “black man you can only depend on yourself, you can depend on no one else.”
This has to be the new mantra for the countries in the OECS and in CARICOM, in Africa and Asia so while efforts should continue at the international level seeking access to greater development financing, seeking private sector Investments and trade. There is a national agenda and focus which need to be urgently designed and implemented and we can do it.
In Antigua and Barbuda, we need to understand that no man is an island and we can only depend on ourselves and our people and the ingenuity of national solutions. The challenge is not so much winning the war of talk radio, but more so astute vision, planning and execution of a new and challenging development agenda post the loss of CIP financing.
The first and immediate adjustment for Antigua and Barbuda is the linking of the tax collection regime to economic activity by removing the widespread exemptions given to foreign investments and local Investments in property tax, in sale of assets, in transfer of ownership, in tax on profits and tax on consumables. The old policy regime of providing massive tax exemptions to foreign and local investment as a means of generating growth and employment and providing tax revenue financing to develop the infrastructure and to finance operation of the government is no longer appropriate.
This fiscal imbalance has to be corrected immediately. The new fiscal policy should be accompanied by a focus on productive and commercially viable Investments in three main sectors 1)in education and skill training 2)in agriculture and 3) in the immediate Construction of additional two thousand hotel rooms.
Job creation is the most fundamental objective of any nation state and government’s budget could benefit from the creation of productive employment. As part of the immediate investment in Education and skill Training project, the government should implement three components A) the University of the West Indies, the Antigua State college, the hotel trading Institution, the airport Authority, ADOMS (Antigua Department of Marine Services) they should all get together with the American University to produce and train skilled individuals required at home and abroad because of labour shortages in the World Market. Focus should be on the training of over 2,000 nurses, medical equipment maintainence professionals additionally another 2,000 professionals should be trained to take up jobs in the local hotel and cruise ship mega yacht sectors; not only trained in service side but also on the boat operational, maintenance and management area and another 2,000 individuals should be trained in aviation skills through the establishment of an aircraft pilot school simulation centre and aviation engineering training. Then Special schools focusing on the training of soldiers and police officers in security and crime fighting measures and targeting the supply to the UN’s peace keeping and disaster management services. Lastly, an expansion of a teacher training facility with a focus of teaching primary school children and also a specialization of the teaching of mathematics, foreign languages and IT. This will augment the present focus on upgrading construction technicians that is currently under way.
In Agriculture what is needed is the purchase of several RO plants for crop irrigation and transforming all the rough shrub lands into fruits and vegetable export farms fully mechanized and the establishment of mini-feed lots for sheep, goats, pigs, chicken and cattle production.
Antigua and Barbuda has been stuck at 2,500 hotel rooms for the last 15 years due to the closure of several large properties and the maintenance of others. There is urgent need for the immediate construction of another 2,500 hotel rooms taking the number up to 5000 hotel rooms. This is designed to support the development of the aviation sector and to generate the scale of economic activities required for the main sector tourism. The old dependance on foreign investors has shown itself as not sufficient to expand the sector to the level required for improving the sustainability of the economy.
The construction of hotel rooms should be seen as fundamental infrastructure such as ports, harbours, roads, airports since they provide the main source of economic earnings to support the requirements of the nation state. Owning hotel rooms does not mean managing hotel rooms and the private sector should be called on to manage, publicly owned but managed on the basis of private commercial principles. The government already has the capacity to do so since it owns its own block plant, concrete plant, quarry and the employment of thousands of construction workers and grass cutters some of whom have construction labouring skills.
The loss of the CIP should not be a cry of desperation but a signal to action, to put aside the pettiness of political governance and get to work utilizing the best skills and talents to get the job done. Failure to make the necessary adjustments could create a season of great economic hardship and political turmoil capable of ruining the legacy of the party in power and its leaders.
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