Turkey gives US$2M more to Caricom development fund

The Caricom Development Fund (CDF) has received a second contribution of US$2 million from the Government of Turkey in less than a year.

A release from the CDF said that the funds which will contribute to the capital fund, will be allocated in consultation with the Turkish authorities to projects submitted by eligible Caricom member states.   CDF’s CEO, Ambassador Lorne McDonnough thanked the Turkish government for its contribution, noting that it confirmed Turkey’s confidence in the work being done by the CDF.

“Both contributions are the result of discussions over the last three years between the CDF and the Government of Turkey and represent a tangible expression of Turkey’s desire to strengthen its ties with Caricom member states.

“An important part of our mandate is to ameliorate the disparities among Caricom member states and any dislocations which may result from the implementation of the Caricom Single Market and Economy (CSME) and this second donation from the Turkish government will go a long way in assisting with our mission,” McDonnough explained.

To date the CDF has approved over EC$112.86 million (US$41.8 million) in assistance to member states through its Country Assistance Programmes (CAPs), with the Board approving CAPs for Grenada, Dominica and Guyana in 2013 as well as supplementary funding for St Vincent and the Grenadines, as additional support for the development of that country’s new Argyle International Airport,” the release said.

The CDF was established to assist member states in maximising the benefits arising from participation in the CSME, by reducing intra-regional disparities through effective partnerships and the provision of financial and technical assistance support.

More in Local News

Comments

About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Get the day's headlines from SN in your inbox every morning:

Most Read This Week

  1. Bibi O’Donovan

    UK-based woman dead, daughter in hospital

  2. Kelly Datt

    Bandits shoot dead one of their own during Edinburgh robbery

  3. Sueanna Walcott

    Mahaicony crash claims second victim

  4. Area where Akeem Grimmond’s body was found

    Boy, 14, found murdered in burial ground

  5. Nazim Jabhar and Angela Jabhar

    Woman critical, niece, 3, injured in Albion hit and run

  6. 20160818cape1

    Passion, dedication and sacrifice yield success for top CAPE students

  7. Malika Hamilton

    Prime suspect in murder of Ann’s Grove girl found hiding in barrel

  8. Reagus Lamazon

    Teen charged over Laing Avenue taxi driver’s murder


Recommended For You