Three CARICOM states to receive CDF funding

By Admin Thursday November 01 2012 in Caribbean
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ROSEAU: Dominica is among three CARICOM member states that will benefit from EC$47 million granted by the CARICOM Development Fund (CDF) for agricultural and infrastructural initiatives.


The board of directors of the CDF, which is based in Barbados, has approved a total of EC$47,618,906 in assistance for Dominica, Guyana and St. Vincent & the Grenadines.


The CDF has allocated EC$19,053,317 for Dominica, EC$19,758,589 for Guyana and EC$8,807,000 for St Vincent and the Grenadines.


From the EC$19,053,317 allocated to Dominica, a line of credit and grant assistance will be made to the Agricultural Industrial Bank; grant assistance for ancillary works at the Melville Hall Airport; a loan for the operation and management of two multi-purpose Pack Houses at Portsmouth and Roseau; a grant to equip both Pack Houses and undertake remedial works on the Portsmouth facility; and a loan to equip the National Centre for Testing Excellence and build staff capacity.


The country assistance program (CAP) for Guyana comprises a loan and grant to the Ministry of Agriculture for improving farm access through the upgrading of selected dams to all-weather and paved roads in Region Three, Four and Five. The program is geared towards boosting agricultural production in rural communities so as to encourage a shift beyond subsistence agriculture.


The supplemental loan for St. Vincent & the Grenadines augments the existing CAP which was approved in September 2010. The money is to be used for procuring equipment for paving works and laboratory testing at the new Argyle International Airport project.


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