Basseterre, Saint Kitts and Nevis: Prime Minister of the Federation of St Kitts and Nevis and Minister of Finance – Dr Terrance Drew, delivered his opening speech during the Western Hemisphere Department (WHD) and International Monetary Fund (IMF) meetings on Wednesday, April 14, 2023.
The Deputy Director of the Western Hemisphere Department and IMF, Mr Nigel Chalk, chaired the meetings in the presence of other Caribbean Ministers of Finance and Central Bank Governors.
As per the updates, the IMF and WHD meetings were held on the sidelines of the World Bank IMF Spring Meetings organized in Washington DC, United States of America. During the meetings, Prime Minister Drew highlighted various topics such as “Reaping Opportunities from Green Energy.”
The reports have also stated that Prime Minister Terrance Drew attended the meetings for the first time ever after the historic win registered by St Kitts and Nevis Labour Party under the leadership of PM Drew at the polls in August 2022.
During his address, he pointed out several pressing issues and challenges in front of the small island nations which need to be addressed and resolved directly related to the climate change condition, said reports.
He furthermore added that the government of St Kitts and Nevis is proud to contribute to the global efforts to research the potential solutions to the municipality of issues despite being the smallest among the other nations in the Caribbean.
Climate change issues are a threat posed in front of the nations, which should be confronted by taking appropriate actions along with adopting new measures. In addition, St Kitts and Nevis have been taking preventive measures and putting efforts to address the effects posed by climate change in the country, said Prime Minister Drew.
He extended his remarks and outlined that the government of St Kitts and Nevis is keeping up with the commitment to add up to the global efforts to reduce ozone-depleting gases. He cited that by 2030, the nation has declared to control the emissions caused by CO2 by 61 per cent while using 2010 as the base period.
Additionally, climate-smart strategies and efforts have been adopted by the government of the twin island federation to lead to behavioural change among the citizens of the nation.
Along with building on and upgrading existing sustainable approaches to contribute to the cause with United Nations Sustainable Development Goals.
He also emphasized renewable energy sources and said that it is a blessing to have a sunshine to generate solar energy along with wind to produce geothermal energy reserves. The government has been focusing on using and considering all renewable energy sources and making a smooth transition to lead to low-energy sources.
It is noteworthy that he asserted several industries which could benefit from lower energy prices, such as manufacturing, education, health care, agriculture and transportation services. Prime Minister Terrance Drew also mentioned a project anticipated to complete in 2025 with reference to “Opportunities in geothermal energy.”