Prime Minister Hon. Philip J. Pierre met this morning with Mr. Yazeed Saleh AlYahya, Chief Executive Officer of Saudi Eksab in New York, to discuss potential investment in Saint Lucia’s development.

The Prime Minister outlined Saint Lucia’s need for more financing options. Small island developing states have relied heavily on borrowing to fund development, adding to public debt and limiting their ability to respond when disasters or economic shocks hit. Equity investment offers another way to bring in capital: investors take an ownership stake in the projects they fund, without the government necessarily taking on a new loan.

"Saint Lucia cannot borrow its way to the future," the Prime Minister said. "We need partners willing to invest alongside us and share in the returns. Saudi Eksab was created to do exactly that in markets like ours, and we want to work with them."

The two sides discussed housing and tourism development as one of the first areas for cooperation. Access to affordable, well-built housing remains one of the most pressing needs for Saint Lucian families. The meeting ended with an agreement to explore Saudi Eksab investing in housing and tourism development in Saint Lucia. Officials from both sides will follow up on next steps.

Mr. AlYahya said: "Saudi Eksab is keen to partner with Saint Lucia. Our mandate is to invest where our capital can deliver real socio-economic impact as well as sustainable returns, and housing is an area where both can be achieved. We look forward to working with the Government to turn today's discussion into concrete opportunities."

Saudi Eksab launched in October 2025 with a mandate to make equity investments in emerging and frontier markets, aiming to deliver both financial returns and social and economic impact. The meeting builds on Saint Lucia's partnership with the Kingdom of Saudi Arabia, including the Saudi Fund for Development's support for the reconstruction of St. Jude Hospital.

ENDS