EIB to lend USD 1m for sustainable energy projects in Saint Kitts and Nevis
(ADPnews) - Dec 17, 2010 - The European Investment Bank (EIB) said today it will lend USD 1 million (EUR 756,000) to the Development Bank of Saint Kitts and Nevis to support renewable energy and energy efficiency projects.
The projects will further benefit from an interest rate subsidy to facilitate investment in these sectors, the bank said.
The USD 1 million financial support is part of a total USD 8 million (EUR m) credit line that the EIB has agreed to provide to the Development Bank of Saint Kitts and Nevis. The funds aim to ensure continued availability of public and private sector finance during the financial crisis. They will promote growth, employment, competitiveness and economic diversification on the Saint Kitts and Nevis.