“The CBI Regulatory Framework Came From US”, Prime Minister Drew Clarifies

Basseterre, St. Kitts, October 8, 2025 (PMO) – Prime Minister Hon. Dr. Terrance Drew has reaffirmed that the Eastern Caribbean Citizenship by Investment (CBI) Regulatory Framework, the first of its kind, was designed and initiated by Caribbean nations themselves. He said the framework represents a landmark in regional cooperation and demonstrates the Eastern Caribbean’s collective determination to protect and modernize one of its most vital economic pillars.

Addressing members of the media during his October 7 Roundtable, Prime Minister Drew dispelled misconceptions that the regulatory framework had been externally imposed or dictated by larger geopolitical actors.

The Prime Minister explained that while Caribbean governments collaborated with international partners such as the United States and European Union to ensure alignment with global best practices, the creation of the framework was fundamentally a Caribbean-led initiative, conceptualized, negotiated, and agreed upon by the governments that operate CBI programmes within the region.

The framework establishes a shared regulatory authority among participating Organisation of Eastern Caribbean States (OECS) members, modelled on the cooperative structure of the Eastern Caribbean Central Bank (ECCB), a longstanding symbol of regional integration and fiscal prudence. It is designed to harmonize standards, strengthen due diligence, and reinforce investor confidence across participating territories.

Prime Minister Drew said that all member countries have signed on to the agreement, with legislative procedures now underway to finalize its implementation.

The Prime Minister also stressed that the unified regulatory framework is not only about compliance but also about ensuring longevity, competitiveness, and integrity in an evolving global financial environment. He described the effort as both a defensive and proactive measure to shield the industry from external pressures while improving transparency and governance.

The new regulatory framework is expected to be fully operational by the end of October 2025.