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Guyana and Barbados to establish joint investment fund for nation-building projects
(Kaieteur News) – Guyana and Barbados will soon establish an investment fund called the ‘Trident Arrow’ which will allow ordinary citizens to invest in nation building projects.
The announcement was made on Tuesday by the Prime Minister of Barbados Mia Mottley during a press conference with Guyana’s president Irfaan Ali.
The Barbadian leader explained that the fund “will be open to ordinary Bajans and ordinary Guyanese to invest in critical infrastructure and long-term medium to long-term investment projects whether in the utility sector, whether in the area of technology whether in the area of agro-processing…”
Prime Minister of Barbados Mia Mottley alongside President Irfaan Ali at the press conference, displaying their ID cards.
The prime minister submitted that only leaders can provide opportunities for their citizens to earn a return that is higher than the 0.1% the banks are currently paying out. As such, she stated that in an inflationary environment citizens need to be prioritized.
Additionally, PM Mottley who was visiting Guyana for its 60th Diamond Jubilee Independence said that the fund will ensure that the citizens of both countries become owners in their land of birth rather than tenants for the duration of their lives.
“It will be properly managed with all the proper credential regulations and financial mechanisms and laws buttressing it. But what it does is that instead of allowing only other foreign investment to come in to own critical parts of aspects of our economy, it allows ordinary people who could not do it on their own, but who as part and parcel of a collective group can make it happen and move mountains,” PM Mottley said.
Special Diaspora Bond
Meanwhile, President Irfaan Ali announced at the same press conference that the government of Guyana will launch a special diaspora bond aimed at raising funds from Guyanese living abroad for investments in public infrastructure projects across the country.
“Members of the diaspora, here is your opportunity to make your contribution and be part of the massive transformation taking place in our country,” President Ali said.
According to a Department of Public Information (DPI) report, the bond is intended to tap into the financial resources of the Guyanese in the diaspora, directing that capital toward infrastructure development as the country presses forward with its national transformation agenda.
Passport free travel between Guyana and Barbados
At the same press conference, it was announced that PM Mottley was the first person to travel from Barbados to Guyana passport free using her electronic identification card. On May 27, Kaieteur News reported that President Ali announced that citizens of Guyana and Barbados will be able to travel between the two countries using only their digital identification cards from July 1, marking a major milestone in regional integration and digital modernisation within the Caribbean Community (CARICOM).
Sitting alongside PM Mottley, President Ali said, “As from July 1, you can forget your passport at home and travel with your digital ID card to Barbados, and the same from Barbados to Guyana.”
He said the delay until July is intended to give airlines additional time to fully adapt to the new travel system, even though the technology is already operational.
The president described the initiative as a “major step forward in regional digital integration, border modernisation and the advancement of CARICOM cooperation,” noting that the agreement followed consultations among government officials, CARICOM IMPACS and regional stakeholders.
The digital ID cards will not only facilitate travel but are expected to support wider integration of government services. According to the president, healthcare systems in both countries are also expected to become integrated through the cards.
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