President Irfaan Ali announced on Tuesday, coinciding with the 60th independence anniversary of Guyana, that the country will launch a Diaspora bond next week. This initiative is designed to allow Guyanese living abroad to invest in various public infrastructure projects in Guyana.
During a joint news conference with Barbados’ Prime Minister Mia Mottley, President Ali emphasized the opportunity for members of the diaspora to contribute to the ongoing transformation in Guyana. He stated, “Members of the diaspora, here is your opportunity to make your contribution and to be part of the massive transformation taking place in our country.”
Prime Minister Mottley also highlighted the collaboration between Guyana and Barbados in establishing the Trident Arrow Investment Fund. This fund aims to provide ordinary citizens with investment opportunities in critical infrastructure and medium to long-term projects in sectors such as utilities, technology, and agri-processing.
Mottley noted that the initiative seeks to offer returns that exceed the current low savings rates provided by banks, which she described as insufficient in an inflationary environment. She remarked, “We believe that this is the only way we can allow our citizens, certainly in Barbados’ case, to be able to earn a return that is greater than what the banks are paying at 0.1% in savings.”
Furthermore, she expressed the goal of encouraging both Guyanese and Barbadians to become owners in their homeland rather than remaining tenants throughout their lives. Mottley assured that the Trident Arrow Fund would be managed properly, adhering to all necessary regulations and financial laws, and would not serve as a political fund.
She concluded by stating that the fund would empower ordinary people to collectively invest in their economies, rather than relying solely on foreign investments to hold critical aspects of their economies.
Source: demerarawaves.com
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