St. Kitts – Nevis Banks Approves Over 1100 Loans In 2006

Basseterre, St. Kitts – Nevis
December 17th 2007 (CUOPM)

The Development Bank of St. Kitts and Nevis approved loans of nearly EC$43 million in 2006.

The bank, which continues to play a major role in advancing the development agenda of the Government of this twin-island Federation, provided exceptional service in the areas of education, housing-mortgage finance, agriculture and industrial development with approvals of 1,136 loans valuing EC$42.8 million.

The majority of this lending was distributed to the Mortgage Financing Sector to the tune of EC$11 million; education, EC$10.7 million; agriculture, EC$400,000 and industrial development, EC$100,000.

The Development Bank in its commitment to the advancement of St. Kitts and Nevis has also partnered with the Government and several other banks to provide credit under the Special Land Initiative that will enable some 5,000 nationals to own land in the twin-island Federation.

“We expect that all Banks involved in this important people empowerment initiative will do everything within the limits of the relevant regulatory and prudential requirements, to assist the people of the Country in realising their aspiration to proudly take up their birthright by owning a piece of this precious rock that we affectionately refer to as “˜home’,” said Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas.

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