{"id":93578,"date":"2020-01-02T08:40:41","date_gmt":"2020-01-02T12:40:41","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=93578"},"modified":"2020-01-02T08:40:41","modified_gmt":"2020-01-02T12:40:41","slug":"citizens-by-investment-unit-claims-almost-half-of-cip-monies-were-used-to-pay-pensioners","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/citizens-by-investment-unit-claims-almost-half-of-cip-monies-were-used-to-pay-pensioners\/","title":{"rendered":"Citizens By Investment Unit Claims Almost Half Of CIP Monies Were Used To Pay Pensioners"},"content":{"rendered":"
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With 241 citizens through the Citizen By Investment Program (CIP) in the first half of 2019, the Citizenship by Investment Unit\u2019s (CIU\u2019s) says 42.79 percent of disbursements were used to settle monthly pension payments.<\/p>

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According to CIU\u2019s reports, operating account disbursements revealed that the largest sum of monies from the program (US $6,000,000) had been disbursed to the Antigua and Barbuda Social Security Board.<\/p>\n

The document also disclosed that 10 percent of the US $14,021,046.31 transferred from the CIP account was used to finance the development of educational institutions across the island.<\/p>

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Additionally, US $540,000 went toward improving the broadband service for educational institutions; US $432,000 was used to develop the broadband Internet access for the University of the West Indies (UWI) Five Islands Campus; and US $421,200 funded the purchase of IP network links for the UWI campus.<\/p>

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A significant sum of money (US $297,433.40) was also used to finance parts of the sporting sector.<\/p>\n

Improvements to the legislative dynamics of the twin island can also be credited to CIP funds. This includes the legalisation of marijuana of which US $23,760 was transferred.<\/p>

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With 241 citizens through the Citizen By Investment Program (CIP) in the first half of 2019, the Citizenship by Investment Unit\u2019s (CIU\u2019s) says 42.79 percent of disbursements were used to settle monthly pension payments. According to CIU\u2019s reports, operating account disbursements revealed that the largest sum of monies from the program (US $6,000,000) had been […]<\/p>\n","protected":false},"author":3,"featured_media":3409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-93578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCitizens By Investment Unit Claims Almost Half Of CIP Monies Were Used To Pay Pensioners - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/citizens-by-investment-unit-claims-almost-half-of-cip-monies-were-used-to-pay-pensioners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citizens By Investment Unit Claims Almost Half Of CIP Monies Were Used To Pay Pensioners\" \/>\n<meta property=\"og:description\" content=\"With 241 citizens through the Citizen By Investment Program (CIP) in the first half of 2019, the Citizenship by Investment Unit\u2019s (CIU\u2019s) says 42.79 percent of disbursements were used to settle monthly pension payments. 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