Nevis Government Praised For Prompt Loan Repayments

Nevis Island Premier - Joseph Parry
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Nevis Island Premier – Joseph Parry

Charlestown, Nevis
July 13, 2009

The Nevis Island Administration (NIA) earned high commendation for its prompt loan repayments from the St. Kitts and Nevis Social Security Board. The NIA used the loans for several housing projects on the island.

Chairman of the Board Mr. Halva Hendrickson applauded the NIA on Wednesday when an agreement was signed for an additional $5million for the Civil Servants Home Mortgage Scheme.

“We have readily agreed and we are partnering with the Nevis Island Administration because they have been very good partners.

“Their accounts are prompt and up to date, they do not have any problems in terms of disbursement in terms of payment and we are quite very happy to give this additional $5million to Nevis,” he said.

Mr. Hendrickson explained that the Board had previously given Nevis $10million for the Scheme but the demand had been beyond expectation and the NIA requested the additional money.

He said in previous years, Nevis had received about $29milion for housing. Ten million dollars was for the Nevis Housing and Land Development Corporation; $10million for the Civil Servant Home Mortgage Scheme; $9million for Affordable Housing and in 2008 the $5million brought the amount to $34million.

The Board Chairman also pointed to a further $10.385million given to the NIA, to support a number of the NIA’s development projects on the island.

“We are very happy, very pleased and we want to play our part in the development of Nevis because Nevis is a very important part of the portfolio of Social Security,” he said.

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