India and the CARICOM Development Fund (CDF) signed a Contribution Agreement on January 19th, 2019, in Paramaribo Suriname which provides for a grant allocation of US$1m to the CDF’s capital fund.
A release from the CDF said that India becomes the latest International Development Partner to enter formal ties with the CDF during its Second contribution and subvention cycle, which runs from 2015 to 2020.
The resources will support implementation of the CDF’s mandate to provide financial and technical assistance to disadvantaged countries, regions and sectors within CARICOM.
The funds will be allocated towards programmes in CDF Member Countries in one or more of four thematic areas, namely: Renewable Energy and Energy Efficiency; Sector-specific physical infrastructure to facilitate private sector trade and investment and resilience-building; Concessional financing for SMEs; and Human Resource Development.
The current Member Countries of the CDF are: Antigua and Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname and Trinidad and Tobago.
