Financing for St.Kitts & Nevis
NO. 26/08-BDOctober 30, 2008 CDB TO PROVIDE FINANCING FOR STUDENT LOANS IN ST. KITTS AND NEVIS Eligible persons in St. Kitts and Nevis who want to upgrade their skills and qualifications at the vocational, technical and professional levels will be able to benefit from indirect financing from the Caribbean Development Bank (CDB). The Bank will provide a loan equivalent to USD6.2 million to the St. Kitts-Nevis-Anguilla National Bank to offer sub-loans under the CDB's Student Loan Scheme. The loan will furnish the National Bank with resources for onlending to students over the period 2008-2012. The main objective of the project is to assist the Government of St. Kitts and Nevis in developing the country's human resources through education and training in order to accelerate economic development. This project is consistent with CDB's Education and Training Policy. The policy views education as a critical enabler of economic and social development, by expanding the pool of productive Caribbean citizens with the knowledge, skills, attitude and values necessary to lead purposeful and productive lives in an internationally competitive environment.