Presenting the Estimates of Revenue and Expenditure, Pierre disclosed that EC$55 million has been transferred directly into the Consolidated Fund from the CIP, alongside EC$18 million in non-interest-bearing funds. Additionally, EC$50 million in international escrow funds is currently being held within local banking institutions.

“The Citizenship by Investment Programme has financed several infrastructure, health, and security initiatives,” Pierre stated, adding that further details will be provided in his upcoming policy address.

The Prime Minister also confirmed that the programme’s annual reports and audited financial statements up to March 31, 2025, have been completed by external auditors.

“Let me repeat, the annual report and audited financial statements… have been prepared,” he stressed, underscoring the government’s commitment to transparency and accountability within the programme.

Pierre revealed that improved economic performance allowed the government to reduce its reliance on loan financing during the 2025/2026 fiscal year.

Although EC$257.5 million in loan financing had initially been approved to support major development proposals, the government opted not to fully utilize these funds.

“As a result, approved loan financing decreased by EC$65.6 million to EC$88.8 million,” he said.

Instead, the government increased its use of short-term financing instruments, including treasury bills and bonds, citing growing investor confidence in Saint Lucia’s securities on the regional market.

“It is noteworthy that short-term interest rates on these instruments are, in some cases, lower than long-term borrowing costs,” Pierre added.