Last Updated on May 14, 2024, 7:18 AM AST by Anthony Morris
Basseterre: The Government of St. Kitts and Nevis felt delighted to share the significant progress in their efforts to empower youth through Innovative Financial Education and Savings Programme.
The Prime Minister Dr Terrance Drew initially announced the commencement of this initiative in December 2023. The administration is looking forward to share the recent updates of this programme, led by Financial Education and Savings Task Force.
The Cabinet Secretary- Marcus L Natta, who is leading the Task Force is working continuously and dedicatedly for the success of this programme. She aims to equip the young individuals between the ages 5 to 18, with the essential knowledge and skills they need, to deal with the complications of the financial world.
Notably, the government is collaborating with the Ministry of Education’s Curriculum Development Unit and they developed a diversified financial education curriculum, which is currently undergoing a review.
Noting this, it will ensure that if the curriculum matches the existing educational framework and its standards. The financial education curriculum will be implemented in the schools in their new academic year 2024-2025, following a comprehensive teacher training programme, which will be organised to ensure its effectively.
The Task Force aspires to establish a fund to balance risk with consistent rate of return. These funds will initially support the government owned entities such as The Cable and St. Kitts Nevis- Anguilla National Bank.
Thereafter, it will offer a platform to the youth to contribute in the economic development of the country and will be guided by a strict protocol inspired by Eastern Caribbean Central Bank.
According to the government of twin-island Federation the process of opening a savings account for the participants will commence in September 2024 during the new school year. The accounts will be made at the St. Kitts-Nevis Anguilla National Bank.
The bank is offering special interest rates, especially introduced for the participants of the programme. PM Drew and his government expressed their commitment to empower the youth and foster their financial well-being with every possible measure.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
