St Kitts and Nevis: ASPIRE Bill 2024 passed in National Assembly, aims to benefit younger generation

St Kitts and Nevis: The ASPIRE Bill 2024 has been passed in the sitting of the National Assembly on Thursday and allowed the government to implement in a rightful manner in St Kitts and Nevis. It will establish the ASPIRE Fund and provide the right to create the ASPIRE Council to oversee its benefits for the younger generation. 

With the passage of the bill, Prime Minister Dr Terrance Drew also announced November 29, 2024, as “ASPIRE Day” to mark the celebration and make the children aware of the step. In this day, the officials will gather at Independence Square and shed light on the crucial aspect of the programme while addressing the queries and concerns of the public. 

They will also assist the parents and guardians in signing up their children for success, as PM Drew noted that this will foster financial independence. He also announced that ASPIRE Day in Nevis will be on December 6, 2024, under the guidance of the government of St Kitts and Nevis. 

The ASPIRE Programme is the first-of-its kind in St Kitts and Nevis which is aimed at equipping the youth of the nation with financial independence. The younger generation aged 5 to 18 have received a EC$1,000 in their banking accounts that were opened by the government. Out of the total amount, EC$500 will be contributed towards the saving accounts at St Kitts-Nevis Anguilla National Bank, while EC$500 will be invested in shares of local and government-owned entities.

Prime Minister Dr Terrance Drew added that the ASPIRE Programme will benefit the children and empower the financial landscape of St Kitts and Nevis. It is open to all children and the program will benefit the financial and entrepreneurial landscape of the Federation, aiming to foster the culture of financial wisdom. 

He said that the programme will transform the next generation and build a strong foundation of the younger generation of St Kitts and Nevis.