OECS Leaders Advocate for Unified Standards in CBI Programs OECS

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Unified Standards Essential for Success of CBI Programs OECS, Say Leaders

Castries, Saint Lucia (UnitedPac St. Lucia) — Leaders of the Opposition from the Organization of Eastern Caribbean States (OECS) have jointly reaffirmed their strong support for the CBI Programs within the region. This declaration underscores the essential role these programs play in fortifying the economies of small island developing states, especially amid global challenges. The leaders are calling for a unified standard to ensure the integrity and ongoing success of these initiatives.

Economic Importance of CBI Programs OECS

CBI Programs have been a financial cornerstone for OECS member states. The joint press statement highlights how the CBI Programs OECS have provided crucial resources for budgetary support, capital projects, and infrastructure development. Such support is vital, particularly in the face of external shocks like climate change, global conflicts, supply chain disruptions, and economic recessions.

The leaders emphasize the significant contributions of the CBI Programs OECS to the economic strength and resilience of their respective economies. These programs have enabled small island developing states to secure much-needed funding, bolstering their economic resilience and growth.

International Partnerships and Trust in CBI Programs OECS

CBI Programs in the OECS benefit from mutual trust with key international partners, including Caricom, the European Union, Canada, the United Kingdom, and the United States. This trust is crucial for maintaining visa-free access and other diplomatic benefits. The opposition leaders stress the importance of this trust and the shared responsibility it entails, emphasizing that safeguarding the integrity of the region’s borders is as critical as protecting those of their international partners.

Call for Unified Standards in CBI Programs OECS

In light of recent developments and increasing international scrutiny of the CBI Programs OECS, the opposition leaders strongly support a collective call for all participating countries to sign and enforce a Memorandum of Agreement. This agreement would establish a common standard overseen by an independent regulatory authority, ensuring the continued success and credibility of the CBI Programs OECS.

The leaders believe that a unified approach is essential for maintaining the trust and confidence of international partners and investors. By adhering to a common standard, the region can present a united front, demonstrating their commitment to transparency, accountability, and high standards.

Significance for Regional Stability

The joint press statement by the OECS Opposition Leaders is a significant affirmation of the value and integrity of CBI Programs in the region. As small island developing states continue to navigate global challenges, the CBI Programs OECS remain a critical tool for economic resilience and growth. The call for unified standards and the establishment of an independent regulatory authority underscore the leaders’ commitment to ensuring the credibility and success of these programs.

Full Press Statement

Reaffirming the Value and Integrity of the Citizen Investment Programs in the OECS and a Call for One Common Standard

We, the undersigned Leaders of the Opposition of the Organization of Eastern Caribbean States (OECS), would like to reiterate our support for the Citizen Investment Programs (CIP) across the region. We acknowledge the meaningful contribution that the Citizenship by Investment Programmes (CIP) have made and continue to make to the economic strength and resilience of our respective economies.

The region, and the Small Island Developing States (SIDS) in particular, have been hard-pressed to find sufficient funding to build and sustain economic resilience. The CIP programs have been instrumental in providing critical resources for budgetary support, capital programs, investment, and infrastructure improvement, especially at a time when external shocks have adversely affected us, such as climate change, global wars, supply chain disruptions, and global recessions.

We recognize that our CIP programs also benefit from the mutual trust established between our region and key international partners, including Caricom, the European Union, Canada, the United Kingdom, the United States, and other countries that grant us visa-free access. We acknowledge the importance of this trust and the shared responsibility it entails. We understand that maintaining the integrity of our borders is as crucial as safeguarding theirs.

In light of recent developments surrounding our CIP programs and the increased international scrutiny thereof, we express our strong support for the collective call for all participating countries to sign and enforce the Memorandum of Agreement and to adhere to one common standard overseen by an independent regulatory authority to ensure the continued success and credibility of our programs.

Signatories:

• Honourable Allen Chastanet, Leader of the Opposition, Saint Lucia
• Honourable Jamale Pringle, Leader of the Opposition, Antigua and Barbuda
• Honourable Keith Mitchell, Leader of the Opposition, Grenada
• Honourable Mark Brantley, Leader of the Opposition, St. Kitts and Nevis

For more information on CBI Programs OECS and their impact, visit Unitedpac St. Lucia.