Barbados to pay new-borns big cash to invest in futures

Barbados has announced plans to introduce a Barbados Republic Child Wealth Fund, a landmark initiative that will provide every eligible child with a BBD$5,000 (KY$2,70) investment at birth as part of efforts to reduce inequality and build long-term financial security.

The measure, unveiled in the 2026–27 budget, will apply to every child born in Barbados on or after 30 November 2021 and is expected to begin later this year. The funds will be held in trust and invested in a diversified portfolio, including real assets, bonds and equities, with access granted later in life for major expenses such as education or housing. Eligible families with twins and triplets will get extra payments.

Prime Minister Mia Mottley believes the initiative is a long-term empowerment tool rather than a short-term policy measure, aimed at ensuring that every Barbadian child begins life with a financial asset.

For the 2026–27 fiscal year, the government has allocated around BB$52.1 million (KY$21.3m) to cover children born since the eligibility date. The programme is expected to cost around BB$11 million (KY$4.5m) annually in the future, based on current birth rates.