7 News Belize

CARICOM Development Fund Makes Belize First
posted (February 21, 2011)
Belize will benefit from a three million us dollar line of credit with the Caricom Development Fund. The monies will be channeled through the DFC and Belize is one of the first CARICOM nations to have qualified. CEO for the Fund Lorne McDonnough explained:….

H.E. Lorne McDonnough, CEO - CARICOM Development Fund
"The signature of this cap is historic. it represents the first tangible intervention the CDF has making in furtherance of its mandate to strengthen cohesion within the CARICOM Single Market and the economy of the CSME in accordance with article 158 of the revised Treaty of Chaguaramas. Heads of government of the CARICOM determine that for all of us to benefit from the integration process, all must equally have the opportunity to participate. The CDF remit therefore represents a conscious and sustain effort to ameliorate those impairments which limit national potential as well as to address the dislocation emanating from the CSME implementation."

Hon, Dean Barrow, Prime Minister of Belize
"I am very happy that both for symbolic and practical reasons Lorne and the CDF have chosen to make Belize the first partner with which an official signing ceremony is taking place. I take your point completely that because of where we are the symbolic significance is extremely important. It indicates at a practical level the commitment of the CDF to serve all the member states effectively because from time to time Belize feels rather hard downby and it's nice to know that in terms of the CDF we have been the first. We have been place first with respect to the operationalization of the CARICOM Development Fund."

The CDF will also provide grant funds to DFC for a management information system…

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