Australia boosts CARICOM Fund

Australia is giving AUS$1M to the CARICOM Development Fund (CDF).

A release on Tuesday from the CARICOM Secretariat in Georgetown said that the money is intended for the CDF’s capital fund. The CEO of the CDF, Lorne McDonnough expressed the appreciation of the CDF Board and Management for the contribution from Canberra.

Lorne McDonnough

Speaking with the Australian High Commissioner in Port of Spain, Trinidad and Tobago, McDonnough noted the celerity with which Australia completed its discussions with the CDF.

The commitment to the CDF comes following the signature of a four-year, AUS$60M Partnership Agreement between Australia and CARICOM in Trinidad on the sidelines of the recent Commonwealth Heads of Government Meeting.

According to the release, as part of the capital fund, the CDF will utilise the AUS$1M to make interventions in Disadvantaged Member States in keeping with the CDF mandate to reduce intra-regional disparities.