Finance Minister Colm Imbert says the NIF fund is a way for the government to give back to citizens. Minister Colm Imbert explains that the government was able to recover from CLICO investment back 4 and half billion dollars worth of Republic Bank shares. He also says part of the assets of WITCO, Angostura and OCM have been put into the NIF which was launched last week. The offer document says priority will be given to individual applicants.
Funds will be distributed based on type of need as some types of need are more important than others.
It is stated that applicants will be considered on an individual basis, not on a specific need.
( z1 distribute :ARG1 ( z2 fund ) :ARG1-of ( z3 base :ARG2 ( z4 type :mod ( z5 need ) ) ) :ARG1-of ( z6 cause :ARG0 ( z7 have-degree :ARG1 ( z8 need :mod ( z9 type :mod ( z10 some ) ) ) :ARG2 ( z11 important :ARG1 z8 ) :ARG3 ( z12 more ) :ARG4 ( z13 need :mod ( z14 type :mod ( z15 other ) ) ) ) ) )