Less CIP money affects PM’s Scholarship Programme

The government says a drop in revenues from the Citizenship by Investment Programme is what has caused the delay in disbursements under the Prime Minister’s Scholarship Committee.

With only weeks before the start of the new semester, a number of concerned parent and students have been visiting the Office of the Prime Minister to get answers.

The committee is headed by Director General of Communications and Festivals Commission Chairman, Maurice Merchant.

Chief of Staff Lionel Max Hurst says the fund was increased from two to twenty million annually when the ABLP government took office in 2014.

He said the increase was justified based on the CIP revenues at the time.

However, Hurst explains that with a number of players now in the CIP market there is less CIP money to fund the scholarship programme.

“We are having some challenges in securing as much in resources as we once did,” the Chief of Staff told state media.

As a result, Hurst said some of the payments to students have been delayed “just a little.”

He told those impacted to continue to be vigilant in pursuing the scholarship programme and get in touch with Maurice Merchant “and if they fail to do that they can always get in touch with me upstairs.”

The Chief of Staff is hoping that before students go off to study they will receive the monies.

“The treasury of Antigua and Barbuda is setting aside even more resources.”

He said last week half a million dollars was delivered to the fund with an equal amount to be delivered this week.

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