NIS seeking investment proposals

The National Insurance Scheme (NIS) is calling for investment proposals.
In an advertisement in yesterday’s Stabroek News, the NIS made an open call for investment proposals from companies or financial institutions with regard to investment opportunities in Guyana and in the Caribbean.
The advertisement says that these investments can be equity, debt or other appropriate financial instruments.
Proposals must be for investments within the range of $300m to $3b with a duration of medium to long term.
Investments will be assessed for financial sustainability and balanced with the appropriate risk that will guarantee the social protection benefits of the Scheme.
The proposals must be accompanied by the audited accounts for the three most recent years of operations.
Proposals are to be submitted to the Secretary of the Board via email at board_secretary@nis.org.gy . Investment decisions for 2016/2017 will be made for suitable proposals received up to April 08, 2016.
For several decades, the NIS has been beset by concerns about poor investment decisions. The situation worsened when$5.2b was lost in investments with the CLICO group. The poor investments coincided with annual deficits at the Scheme.