The Prime Minister of Saint Kitts and Nevis, Hon. Dr. Terrance Drew, during his Roundtable discussion on November 20, 2024 highlighted rigorous measures introduced by his administration to protect the CBI and ensure its long-term viability.
Most importantly, he stressed his administration’s zero-tolerance approach to fraudulent practices within the CBI. Underselling, a practice that undermines the integrity of the program, has been criminalized under new regulations.
“This pioneering move makes St. Kitts and Nevis the first country in the region to enforce such a measure.”
– Hon. PM Dr. Terrance Drew
“We are the only government in the region to make underselling a criminal offense, empowering the Director of Public Prosecutions (DPP) to investigate and prosecute those who seek to defraud the system,” he went on to say further.
The new reform ensures that all transactions meet the highest ethical and legal standards, protecting the nation’s reputation and ensuring maximum benefit to its citizens.
One of the key measures introduced is the concept of continuous due diligence, a groundbreaking policy requiring ongoing and repeated assessments of both applicants and projects. This ensures that any anomalies or concerns are promptly identified and addressed, bolstering the credibility of the program.
The reforms align with the government’s broader vision of building a resilient and sustainable economy under the Sustainable Island State Agenda.
“Our standards dictate that we ensure robust due diligence and that no questionable actors exploit our program,”
– Dr. Terrance Drew
