BASSETERRE, ST. KITTS, DECEMBER 2ND 2005 Heads of Government of the Caribbean Community (CARICOM) are to meet this month to establish the much talked about Development Fund.
This was disclosed Thursday by St. Kitts and Nevis Prime Minister and Minister of Finance, the Hon. Dr. Denzil L. Douglas as he addressed the 9th Annual Development Conference at the Eastern Caribbean Central Bank (ECCB) here.
Although Prime Minister Douglas did not name the date of the meeting, he told the delegates drawn for member countries of the sub-regional financial institution as well as regional agencies that Heads of Government of the Caribbean will be meeting in Jamaica to establish what will be known as the Development Fund.
"This will provide the necessary support for countries, sectors and companies, that may become disadvantaged within the context of Chapter Seven of the Revised Treaty of Chaguaramas," said Dr. Douglas.
Caribbean Heads of Government at their 26th Summit in St. Lucia emphasised the importance of the Development Fund for removing the inequalities in the single economic space, and therefore the need for urgent implementation in line with that of the Single Market.
