The government says it is considering a proposal to use funds from the Citizenship by Investment Programme to fund an EC$ 50 million water park at Fort James.
Two unnamed experts who addressed the Cabinet yesterday further proposed engaging cryptocurrency trading to raise funds for the project.
The CIP Business option requires a US$400,000 minimum investment from each investor, and an ICO (Initial Coin Offering) could possibly raise as much as US$20,000,000 equivalent the government said in a statement.
It assured that the fort will remain public property, and the lands adjoining the eastern shoreline will be leased to Antiguans and other developers for the building of the water park, a hotel, shops, restaurants and other tourism amenities.
The development is intended to serve both residents and visitors when complete “and will match the Nelson’s Dockyard in its attractiveness to history, yachts, foo, and entertainment.”
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