Early Warning System

Countries

St. Kitts and Nevis

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

Caribbean Development Bank (CDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Active

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 1, 2016

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of St. Kitts and Nevis

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Infrastructure

The service or industry focus of the investment. A project can have several sectors.

Loan Amount (USD)

$ 2.22 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 6.41 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

LOAN AND PROJECT SUMMARY

Primary Source

Original disclosure @ CDB website

Updated in EWS Jun 22, 2023

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the CDB, the project will reduce street and flood lighting energy consumption and associated greenhouse gas emissions in St. Kitts and Nevis; and enhance the capacity of the St. Kitts Electricity Company Ltd. and the Nevis Electricity Company Ltd. in climate change adaptation planning.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Caribbean Development Bank (CDB)

According to the CDB's disclosure, the European Investment Bank is co-financing the project through its European Investment Bank-Climate Action Line of Credit (EIB CALC) with an amount of USD 3.57 million, and the Government of St. Kitts and Nevis with USD 617,000.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the company's website, the St. Kitts Electricity Company Limited (SKELEC), is a public utility that provides electric power generation, as well as transmission and distribution services to St. Kitts. SKELEC transitioned from a government department on August 1, 2011 acquiring the operations and assets of the St. Kitts Electricity Department.

The Nevis Electricity Company Limited is the sole provider of electricity on the island of Nevis. The company, which opened its doors on September 1, 2000, is a fully owned subsidiary of the Nevis Island Administration. NEVLEC began its operation with the aim of providing quality electricity service to the island of Nevis. Since then, we have grown tremendously in power generation, transmission and distribution, and in the level of service we provide to our customers.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Nevis Electricity Company Limited	Contractor	Energy
-	-	-	-	St. Kitts Electricity Company Limited	Contractor	Energy

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CDB Team Leaders:

Mr. Daniel Best - Director, Projects Department
Email: bestd@caribank.org
Phone: +246 431-1710

Ms. Merlyn P. Combie - Division Chief (Ag.), Economic Infrastructure Division
Email: combiem@caribank.org
Phone: +246 431-1659

Executing Agency - St. Kitts Electricity Company Limited:

Address: P O Box 245, Central Street, Basseterre, St. Kitts
Phone: +869-465-2000/ 466-7102/ 7180
Fax: +869-466-7308
Email: customerservice@skelec.kn
Website: https://www.skelec.kn/

Implementing Agency - Nevis Electricity Company Limited:

Address: Horsford's Business Complex, P.O. Box 852, Long Point, Nevis W.I
Phone: +869 469-7243 | +869 469-7245
Fax: +869 469-7249
Website: https://www.nevlec.com/

ACCOUNTABILITY MECHANISM OF THE CDB

Complaints about suspected fraud and/or corruption may be submitted to the Office of Integrity, Compliance and Accountability. Allegations may be made by a variety of sources including staff, consultants, contractors, and other persons who may consider themselves participants in, witness to or victims of wrongdoing.

To make a complaint, access the following webpage: https://secure.ethicspoint.com/domain/media/en/gui/55678/index.html.