Grenada Government Earns Millions From CBI Last Year

• Grenada has received EC$281.6 million during the fourth quarter of 2021 from the Citizenship by Investment Program (CBI) according to the figures released by the Ministry of Finance. 
• However, the Permanent Secretary in the Finance Ministry, Mike Sylvester, who is also the interim chairman of the CBI Committee, said that not all of the EC$281,610,000 ended up in the Consolidated Fund. 
• Under the CBI program, Grenada provides citizenship to foreign investors in return for making a substantial investment in the socio-economic development of the island. The other source of income for the government under the CBI is the National Transformation Fund (NTF) and according to the Ministry of Finance, the amount the government received for the fourth quarter was EC$52,812,000. 
• Caribbean countries continue to face pressure from international groups to end the CBI program, The United States has moved to decline visas to holders of passports obtained by the CBI, and the European Union has passed a law giving countries three years to phase out the program or face visa requirements for all its passport holders.

(Source: Caribbean Nation Weekly)