BVI News

Gov’t allocates $400K to Financial Services Institute

Minister of Finance, Andrew Fahie. (GIS Photo)

Government has allocated $400,000 towards funding the H Lavity Stoutt Community College’s Financial Service Institute.

Premier and Minister of Finance Andrew Fahie said this investment will help equip residents with the skills needed to access future jobs in the financial services sector.

“We recognized that our people have to be trained in that area. We fully, fully funded the Financial Services Institute at the college and we made sure that all our people can go there and be fully trained in that industry so that when jobs pop up, our people are there,” the Premier said.

Premier Fahie also revealed that the monies used to fund the institute were shifted from less important programmes.

“We had to stop some programmes that were going on in certain areas that wouldn’t have reached the people and we put that money there” the Premier explained.

The Financial Services Industry is the territory’s main revenue earner. Last month, Director of International Business Neil Smith said residents can expect a significant boom in the industry which will be felt by the end of 2019.

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  1. vip heckler says:

    Claude’s $96000 would’ve done wonders here

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  2. Quiet Warrior says:

    Financial services contributes about 60% of government revenue; it is the primary revenue stream/source. Thus, it is encouraging that more money is being plough back into financial services to deepen and strengthen the industry, to train and educate residents to actively participate in and be an integral part of and ownership the industry.

    Premier Fahie says: “Premier Fahie also revealed that the monies used to fund the institute were shifted from less important programmes.” What are the less important programmes? Every statement made merits timely support.

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  3. Gordaguy2 says:

    Great investment

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