PRIME Minister Hon. Philip J. Pierre expressed his support for the Bank of Saint Lucia Global Investment Fund (the Fund) during his keynote address at the official launch on February 1, 2024. The establishment of the Fund marks a significant milestone in Saint Lucia’s economic landscape, bolstering investor confidence and supporting the government’s overarching goal of fostering sustainable economic development.
The Fund, an initiative aimed at enhancing investment opportunities and bolstering economic growth, garnered praise from Prime Minister Pierre for its innovative approach and potential benefits to investors and the economy of Saint Lucia. He underscored the government’s commitment to implementing strategic economic policies aimed at fostering investment and economic resilience.
The Bank of Saint Lucia Global Investment Fund represents a pivotal step in promoting financial inclusivity and fostering wealth creation in Saint Lucia and beyond. As a professionally managed investment vehicle, the Fund pools resources from diverse investors to strategically invest in a range of securities, including stocks and bonds, with returns and risks shared amongst participants.
Prime Minister Pierre emphasized the significance of the Fund’s launch in advancing Saint Lucia’s economic agenda, citing its potential to attract foreign investment, stimulate job creation, and fuel overall economic development. He underscored the government’s commitment to fostering a conducive environment for investment and innovation, underscoring the critical role of public-private partnerships in driving sustainable growth and prosperity.
The Prime Minister’s endorsement of the Fund aligns with the recent analysis by Caribbean Information and Credit Rating Services Limited (CariCRIS), which bestowed Saint Lucia with a BBB+ (Adequate) rating for its Income and Economic Structure. The BBB+ (Adequate) rating indicates the efficacy of the government’s economic policies in stimulating investment and economic development.
Since assuming office in July 2021, Prime Minister Pierre’s administration has been instrumental in attracting Foreign Direct Investment (FDI), securing and finalizing over $2.5 billion in FDI projects.
This steadfast commitment to driving economic growth through FDI underscores Saint Lucia’s appeal as an investment destination under Prime Minister Pierre’s leadership.