Local News
Virgin Islands Government Opens Applications for Small Business Grant Program
The Government of the Virgin Islands, through its Ministry of Financial Services, Labour and Trade, has officially launched the Micro, Small, and Medium Enterprises (MSME) Grant Programme, an initiative designed to bolster business growth and economic development within the Territory.
The first round of grants is now open for applications and will remain so until September 30. Application forms are available on the Government’s official website (www.gov.vg). Eligible businesses interested in applying must complete the application forms and submit them via email to mfslt@gov.vg with the subject line “MSME Grant Programme.”
Additionally, the Ministry is seeking experienced professionals to join the Selection Committee for the MSME Grant Programme. This committee will be instrumental in evaluating applications and awarding grants to local small businesses that show significant potential to contribute to the Virgin Islands’ economy. Ideal candidates should possess expertise in business development, finance, or related fields, alongside strong analytical skills and a dedication to fostering economic growth in the community.
Interested candidates are encouraged to apply for the Selection Committee by submitting a cover letter and a current resume or curriculum vitae to mfslt@gov.vg, using the subject line “MSME Selection Committee.”
The Ministry of Financial Services, Labour, and Trade views this as a pivotal opportunity to support local businesses and professionals, with a focus on strategically enhancing the economic landscape of the Virgin Islands through targeted assistance and development initiatives.
Click below link for MSME Grant Application:
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Local News
British Virgin Islands Financial Services Commission Welcomes New Leadership
The British Virgin Islands Financial Services Commission (BVIFSC) has announced new appointments to its governing board, with Mr. Gerard St Clair Farara KC stepping in as Chairman and Ms. Patlian Johnson as Commissioner. The appointments, confirmed by the Ministry of Financial Services, Labour, and Trade, mark a new chapter for the commission as it seeks to strengthen the territory’s financial services sector.
Mr. Gerard St Clair Farara KC has been appointed to a three-year term as Chairman, effective August 1, 2024. A seasoned legal expert with a distinguished career, Farara currently serves as a Commercial Court Judge for the Eastern Caribbean Supreme Court and leads the litigation team at the BVI office of COLLAS CRILL, formerly Farara Kerins. Farara’s prominence in the legal community is further highlighted by his appointment as Queen’s Counsel in 1996, cementing his standing as a leading figure in the Virgin Islands Bar and the broader Eastern Caribbean.
Ms. Patlian Johnson will serve a one-year term as Commissioner, also beginning on August 1, 2024. Johnson, a Strategy and Policy Advisor with extensive experience, currently holds the position of National Coordinator for the UNDP Project Office. She brings an impressive academic background, including a Master of Science in Economics and Finance from the University of Bristol and a Bachelor of Science in Economics and Accounting with First Class Honours from the University of the West Indies, Cave Hill Campus.
The pair will replace outgoing Chairman Mr. Robin F. Gaul and Commissioner Mr. Melvin A. Turnbull, whose terms have concluded. Minister of Financial Services, Labour, and Trade, Honourable Lorna G. Smith, OBE (AL), praised the new appointments, stating, “I am delighted to welcome Mr. Farara and Ms. Johnson to the BVIFSC Board of Commissioners. Their combined expertise will be invaluable as we continue to navigate the challenges and opportunities facing the financial services sector.”
Smith also expressed gratitude to the departing board members for their significant contributions to the growth and stability of the territory’s financial services industry. According to the Government Information Service (GIS), these appointments underscore the Virgin Islands’ commitment to maintaining a well-regulated and competitive financial services sector.
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