The grant, which was put forward in the government’s Medium Term Financial Plan, will not be the full extent of Jersey Finance funding, the Jersey Evening Post reported.
This is the largest-ever States grant to Jersey Finance, which will help ensure the island remains internationally competitive, according to the organisation’s chief executive Geoff Cook.
In previous years, the money from the States has been exceeded by contributions from member firms in the form of cash subscriptions, income from events staged by Jersey Finance and pro bono contributions from the work of technical groups.
The Medium Term Financial plan 2013 to 2015 aims to ensure that the States of Jersey has the financial ability to achieve the goals of the strategic plan over the next three years.
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