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The chair­man of the Chair­man of the Cit­i­zen­ship by In­vest­ment (CBI) Unit, Richard Dun­can, says Grena­da has EC$54.6 mil­lion (One EC dol­lar=US$0.37 cents) in its con­tin­gency fund at the St. Kitts-based East­ern Caribbean Cen­tral Bank (EC­CB).

The fund re­flects the gov­ern­ment’s de­posit of 10 per cent from the month­ly in­flow of rev­enue earned through the Na­tion­al Trans­for­ma­tion Fund of the Cit­i­zen­ship by In­vest­ment pro­gramme.

Un­der the CBI pro­gramme, for­eign in­vestors are grant­ed cit­i­zen­ship of the coun­try in re­turn for mak­ing a sub­stan­tial in­vest­ment in the so­cio-eco­nom­ic de­vel­op­ment of Grena­da.