The Institute of Directors is welcoming the launch of the Guernsey Investment Fund, a government-backed privately managed fund which will back projects and companies that will boost the island’s economy.
On Friday it was revealed the States is pouring up to £25million into the fund whose other key objective is to return a profit for investors.
The IoD’s praise for the initiative follows their earlier blunt warning about the need for urgent spending on infrastructure projects in the Bailiwick.
The group’s vice chairman of the Guernsey branch, John Clacy, said: “The IoD is greatly encouraged to see the launch of the Guernsey Investment Fund. We hope that this is the start of a programme of investment by the States of Guernsey to help stimulate economic growth and innovation. As highlighted in our recent survey and at our 2017 convention, the need for infrastructure spend and reinvestment into the local economy is clear and immediate.”