Guyana among three CARICOM member states for development fund assistance

Oct 21, 2012 News

BRIDGETOWN, Barbados — The board of directors of the Barbados-based CARICOM Development Fund (CDF) has approved a total of EC$47,618,906 in assistance for three member countries.
This decision was taken at the sixteenth regular board meeting held in Belize recently, where the green light was given for country assistance programmes (CAPs) of EC$19,053,317 and EC$19,758,589 for Dominica and Guyana respectively, and a further loan of EC$8,807,000 for St Vincent and the Grenadines.
The CAP for Dominica comprises a line of credit and grant assistance to that country’s 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 Center for Testing Excellence and build staff capacity.
The 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 Regions 3, 4 and 5.The programme is geared towards boosting agricultural production in rural communities so as to encourage a shift beyond subsistence agriculture.
The supplemental loan for St Vincent and 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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