7.2 million for Caricom Development Fund

Prime Minister Mia Amor Mottley has today recommitted Barbados to honoring its obligation to contribute 7.2 million US dollars to the Caricom Development Fund (CDF) for the replenishment of its second cycle, 2015 to 2020.

THE CDF is an institution of CARICOM whose mandate is to provide financial or technical assistance to needy states or sectors in the community.

While admitting to Barbados’ own financial challenges with the country being under an International Monetary Fund programme, Ms. Mottley said it was necessary for Barbados to honor its commitment to the Caricom Development Fund for the good of the CARICOM Single Market and Economy.

Miss Mottley was delivering an address this morning at the opening of the Caribbean Development Fund’s Eighth Meeting of Contributors and Development Partners which is taking place at the Accra Resort here in Barbados.

Prime Minister Mottley has again expressed concern about what she feels is the lack of interest by commercial banks in the region in helping fund projects that help grow the economies. And she wants to see people take some of the billions of dollars they have in the banks and instead invest it.