Luxemburg pledges euro300,000 to the CDF
LUXEMBOURG has pledged euro300,000 to the Caricom Development Fund (CDF) in support of the process of regional integration in the Caribbean Community (Caricom).
The contribution is to be disbursed over four years, and follows financial contributions from the governments of Australia and Finland and the European Commission. The total resources held by the CDF now amounts to US$81 million out of a target of US$250 million.
In addition to mobilising financial resources from development partners, the CDF is collaborating in strategic partnerships to blend its resources in co-financing arrangements for the benefit of Caricom member states.
The CDF was established by the Revised Treaty of Chaguaramas to provide financial and technical assistance to disadvantaged countries regions and sectors to ameliorate dislocations in Member States which may be caused by the implementation of the CSME.
