BASSEERRE, St. Kitts – WITH partnerships being a key component for sustainable economic growth, Prime Minister Dr. the Hon. Timothy Harris is lobbying for a greater connection amongst members of the private and public sectors for the realisation of long-term financial goals.
While addressing the High Level Caribbean Forum which began yesterday (Sept. 3) at the St. Kitts Marriott Resort, Dr. Harris, who is also the Federation’s Finance Minister, said St. Kitts and Nevis would be looking forward to the advancement of a number of capital investment projects through these partnerships.
“Colleagues, this is an opportune time for us to progress to wider use of Public-Private Partnerships (PPPs) as a solution for financing and executing large infrastructure projects.The CDB has launched a Regional Public Private Partnership Support Facility and will be providing assistance to Governments in the implementation of PPP Programmes. We need to forge ahead with such options which can be beneficial to our growth agendas.
“For us in St Kitts and Nevis, we are looking to PPP to advance the construction of critical infrastructure and legacy investments like a new cruise pier, a unity bridge linking our two islands by sea and across country road joining east and west of our island.”
Dr. Harris added that sustainable growth hinges upon lateral and bilateral partnerships.
“Sustainable growth requires partnership. Partnership among economic actors, partnership between public and private sectors, partnership between government and government, and partnership between government and international financial institutions. No man is an island! No island is too large to need the support of another even one smaller than itself.
“In the context of the imperative partnership, my Government hails the constructive partnership that we have had over the years from the European Union, the Governments of Canada, USA and Venezuela, to name a few. We acknowledge the support from the Republic of China (Taiwan) and Kuwaiti Fund that have been especially responsive to our needs.”
The Prime Minister said that regional financial institutions such as “the IMF, World Bank, CDB and a number of other international bodies have in recent times combined their efforts to facilitate a number of Growth Forums throughout the Caribbean. The Growth Forums were intended to promote dialogue among the private and public sectors as we seek a means by which we can create sustainable and inclusive growth.”
Expecting that the partnerships would lead to sustainable economic growth, Dr. Harris expressed the view that “the effects of such growth should be felt by the entire population of our countries and not by just a selected few. It is imperative that as our countries recover from the prolonged recession, that all of our citizens and residents, and especially the vulnerable in our society, experience a better way of living; a more comfortable and wholesome lifestyle. It is imperative that the vast army of young people experience improvement in their lives; for too many of them, the system has not been working.”
