Prime Minister Andrew Holness says the Government will seed the first $200 million to establish the HOPE for Children Trust Fund this financial year.
Under the fund, any Jamaican child born on or after the 60th anniversary of the country’s Independence (August 6, 2022), who is part of the Programme for Advancement Through Health and Education (PATH) or a ward of the state, will be eligible to register.
Holness first announced the fund last year at the annual conference of the governing Jamaica Labour Party (JLP). He said his “ground-breaking” initiative is aimed at breaking the cycle of generational poverty.
“We are making progress with determining the legal structure of the fund and examining options for how the fund will be managed and administered, and I am pleased to report that during the upcoming financial year, the Government will seed the fund with $200 million,” the prime minister said.
He was speaking Thursday during his contribution to the 2025/26 Budget Debate in the House of Representatives.
“While strengthening our social safety net is crucial, we must go further. It is not enough to support people in times of hardship—we must create pathways out of poverty,” he said.
He pointed to the reality that thousands of children in low-income families reach adulthood without any savings or assets to help them get a start in life.
“This lack of capital perpetuates generational poverty. We must break this cycle,” Holness said.
Every eligible child will be provided with a long-term savings account, funded annually by the Government. The funds will accumulate with interest and will be accessible on or after the child’s 18th birthday for transformative purposes such as education and skills training, home or commercial property ownership, or business investment.
The prime minister told Parliament that “the central idea behind this programme is to equip young Jamaicans with a financial foundation—a lump sum that gives them a real start in life.”
