Saint Lucia’s aging population is putting greater urgency on efforts to invest in young people. Economic Development and Youth Economy Minister Wayne Girard warns that failure to build a productive younger generation could have serious consequences for the country’s future.
Speaking at Monday’s Pre-Cabinet press briefing, Girard said approximately 3,000 grants valued at an estimated $14.2 million have already been issued through the Youth Economy programme, while more than 200 young Saint Lucians have received training.
But the minister argued that the programme is about much more than helping young people turn ideas and hobbies into businesses.
“The truth of the matter is we’re not making any more children in Saint Lucia. We have an aging population,” Girard said, warning that if the country does not “get the situation of the young people of Saint Lucia correct,” it could face significant challenges in the future.
He described investment in young people as “a line of defence for the future of this country,” stressing that increasing their productivity and preparing them to eventually take on greater economic and leadership roles are critical to Saint Lucia’s long-term sustainability.
Against ongoing political debate surrounding the Youth Economy programme, Girard urged young people with viable ideas to approach the agency rather than be discouraged by what they hear on social media.
“Forget the politics, forget what you’re hearing on social media,” he said, maintaining that young people who approach the Youth Economy Agency with an idea or initiative can access assistance regardless of political considerations.
Girard also addressed recent staffing changes at the agency, saying the former chief executive officer chose to leave and that a new CEO has since been appointed. Recruitment is also underway for additional personnel, including a communications specialist and procurement officer.
The agency is continuing to refine its operations, including allowing expressions of interest to be submitted online, as it seeks to make support more accessible to young entrepreneurs.
Girard said the broader objective is to help create “a class of young people with the ability to be able to run this country in the future.”
While describing the Youth Economy programme as being in “a good space,” he acknowledged that funding remains its biggest challenge. He adds that Prime Minister Philip J. Pierre had provided initial funding and intends to double it.
Government’s longer-term vision, he explained, is to establish a financing pathway through which entrepreneurs can move from the Youth Economy Agency to the Saint Lucia Development Bank and eventually become eligible for commercial financing.
Girard described that system as “a work in progress” aimed at creating a pipeline capable of taking young entrepreneurs from early-stage government support towards conventional banking and greater financial independence.
