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CARICOM Development Fund advances Country Assistance Programmes

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The CARICOM Development Fund (CDF) is set to implement a Country Assistance Programme (CAP) with the Government of Saint Lucia after that CARICOM Member State signs off on national activities to be implemented during the biennium 2010-2011.{{more}}

The CAP is expected to be finalised by mid-April 2010 and soon after the CDF Board approves, execution will take place.

The Chief Executive Officer, Ambassador Lorne McDonnough, indicated that CAPs would be developed for all beneficiary Member States. This follows from a recent decision of the CDF’s Board to accelerate implementation of CAPs, once the Member State is financially compliant.

Saint Vincent and the Grenadines, Belize, along with Saint Lucia, are the Member States currently eligible for CDF assistance. The Government of Saint Vincent and the Grenadines has requested financing for the Apron, Runway and Taxi-way for the Argyle International Airport. That request is expected to be considered by the Board at its next meeting.

The CDF is in discussion with the Government of Belize to commence the process of designing a CAP for that CARICOM Member State during April. Discussions have also commenced between the Government of the Commonwealth of Dominica and the CDF in keeping with the decision of the Board to engage all beneficiary Member States.

The CDF was established by the Revised Treaty of Chaguaramas to provide financial and technical assistance to disadvantaged countries regions and sectors to ameliorate dislocations in Member States which may be caused by the implementation of the CSME.

In addition, the CDF assistance will support measures to reduce disparities among Member States so they can fully derive the benefits from the integration process. In executing these mandates the CDF provides financial and technical assistance to the public and private sectors.