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Business
CMC  
June 8, 2010

Caribbean countries urged to pay contributions to CDF

BRIDGETOWN, Barbados (CMC) — THE Barbados-based Caribbean Community Development Fund (CDF) says it hopes to fund a number of national programmes this year and is appealing to all member countries to pay their contributions to the capital fund.

“Of the beneficiary countries, the paid-up ones are St Vincent and the Grenadines, St Lucia and Belize. Most of the nonbeneficiary countries have paid up fully, I think the one exception is Jamaica, but of course there are some serious problems in that country at the moment but we are still optimistic Jamaica will be in a position to finalise its contributions as soon as possible,” newly appointed CDF chairman, Dr Bernard La Corbiniere, told a news conference yesterday.

Officials say that out of a total of US$19.69 million, Jamaica had an outstanding balance of over US$11 million. On the contrary, they say Barbados has fully paid up its contribution of US$11.4 million.

The officials point out that countries must be fully paid up in accordance with the agreement signed by Caribbean leaders in July 2008 in order to draw down on the fund.

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