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Proposed Libyan Development Bank for St. Kitts and Nevis

BASSETERRE, St. Kitts – St. Kitts and Nevis is to be the headquarters of the proposed Libyan Development Bank in the Eastern Caribbean.

This was disclosed on Friday (July 3) by St. Kitts and Nevis Prime Minister and Minister of Foreign Affiars, Hon. Dr. Denzil L. Douglas.

Dr. Douglas, who was one of three Eastern Caribbean Prime Ministers, who was in Libya to attend the 13th Summit of the African Union told the St. Kitts and Nevis National Assembly that St. Kitts will also be the location for the Holding Company for Libyan investments in the Caribbean region.

St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas

“We also discussed an Embassy of Libya for the Eastern Caribbean and looked at the possibility of it being located in St. Lucia and likewise we spoke of the need for the Eastern Caribbean countries to establish a joint embassy to represent us all in Tripoli,” said Dr. Douglas.

Prime Minister Douglas said that follow up discussions in the coming months will focus specifically on ensuring that the opportunities that were identified during the visit would come to fruition in the quickest possible time.

Dr. Douglas was accompanied by Minister of Public Works, Utilities, Transport and Posts and the Parliamentary Representative for Constituency # 1, Dr. the Hon. Asim Martin and the Accountant General of the Government of St. Kitts and Nevis, Mr. Levi Bradshaw.

“We spoke at length with the Prime Minister, the Minister of Finance and the Foreign Minister of Libya about the ongoing transformation of our post colonial economy in St. Kitts and Nevis and our traditional dependence on sugar and the transition into a model of excellent tourism, financial and information technology services,” Prime Minister Douglas told lawmakers.

Also attending the 13th African Union Summit in the Libyan City of Sirte, were the Prime Minister Hon. Roosevelt Skerritt of Dominica and the Prime Minister of St. Vincent and the Grenadines, Dr. the Hon. Ralph Gonsalves and their officials. Representatives from the Governments of Haiti, St. Lucia, Grenada, Jamaica, Barbados and Antigua and Barbuda also attended.

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