{"id":17220,"date":"2024-03-14T13:29:16","date_gmt":"2024-03-14T13:29:16","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=17220"},"modified":"2024-03-14T13:29:17","modified_gmt":"2024-03-14T13:29:17","slug":"caricom-initiates-special-finance-group-to-boost-integration-efforts","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/caricom-initiates-special-finance-group-to-boost-integration-efforts\/","title":{"rendered":"Caricom Initiates Special Finance Group to Boost Integration Efforts"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Radha Motielall<\/em><\/p>\n\n\n\n<p>Barbados Prime Minister Mia Mottley emphasizes the pivotal role of finance in integrating the Caribbean Community (Caricom), likening it to &#8216;oxygen&#8217; for the region. <\/p>\n\n\n\n<p>Recognizing potential disparities in implementing the Caricom Single Market and Economy (CSME), Caricom Heads established the Caricom Development Fund (CDF) to serve as a compensatory mechanism for disadvantaged countries. <\/p>\n\n\n\n<p>With two funding cycles already completed, discussions are underway for the third cycle. <\/p>\n\n\n\n<p>However, Mottley acknowledges that while the fund is being replenished, it may not be sufficient to meet all needs.<\/p>\n\n\n\n<p>To address this challenge, Caricom Heads have agreed to establish a working group on finance for the CDF. <\/p>\n\n\n\n<p>Vice President Dr. Bharrat Jagdeo will chair the group, working alongside Prime Minister Mottley. <\/p>\n\n\n\n<p>Over the next four months, the group will make recommendations aimed at unlocking additional funding to capitalize the CDF.<\/p>\n\n\n\n<p>In addition to the CDF, Caricom Heads have committed to supporting the blue\/green investment bank initiated by Barbados. <\/p>\n\n\n\n<p>This initiative, backed by the Green Climate Fund and other partners, aims to promote investments in resilience and adaptation efforts within the region.<\/p>\n\n\n\n<p>Prime Minister Mottley believes that this dual approach, coupled with the efforts of the special finance group, will lead to a win-win situation for all Caricom member states. <\/p>\n\n\n\n<p>It underscores a collective commitment to fostering equitable growth and development across the region.<\/p>\n\n\n\n<p>Through these initiatives, Caricom aims to leverage financial resources effectively, promoting sustainable economic development and prosperity for all its citizens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Radha Motielall Barbados Prime Minister Mia Mottley emphasizes the pivotal role of finance in integrating the Caribbean Community (Caricom), likening it to &#8216;oxygen&#8217; for the region. Recognizing potential disparities&hellip;<\/p>\n","protected":false},"author":4,"featured_media":17221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[363,350,351],"tags":[],"class_list":["post-17220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-transformation","category-news","category-politics"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/17220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=17220"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/17220\/revisions"}],"predecessor-version":[{"id":17222,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/17220\/revisions\/17222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/17221"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=17220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=17220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=17220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}