KINGSTON, Jamaica — The Government will seed the first $200 million to the HOPE for Children Trust Fund, under which any Jamaican child born on or after the 60th anniversary of the country’s Independence (August 6, 2022), who is part of a PATH household or a ward of the State, will be eligible to register.

Prime Minister Andrew Holness said the ground-breaking fund which was first announced at the Jamaica Labour Party’s annual conference last year, 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,” Holness said.

He was speaking Thursday during his contribution to the 2025/26 Budget Debate at Gordon House.

“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 stated.

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,” the prime minister 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.

Holness told the House 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”.