Guernsey’s Policy and Resources Committee has decided to postpone the launch of a new ‘Guernsey Together Bond’.
The ‘Guernsey Together Bond’ was due to be launched in January 2021, following a decision to appoint Ravenscroft to manage the launch of the bond and undertake all associated administration. The proceeds of the Guernsey Together Bond would have been used to fund the recovery action plan, a key part of the Revive and Thrive strategy.
The Committee is developing its plans for investment in the medium term and believes it is right to delay the launch of the new retail bond until it is clear what the use for any funding raised would be. This is expected to be in the first half of 2021.
Deputy Mark Helyar, the Policy & Resources Committee’s Treasury lead said: “The Guernsey Together Bond has potential to be a positive way of generating funding for projects that can help in our economic recovery. But we want to be clear about what specifically that money will go towards and how much we think we need.
“We’ll have a clearer picture soon but until then we think it’s right to hold off on the launch of the Bond.”
