St. Lucia receives grant support from the CARICOM Development Fund for export promotion and village tourism

By Caricom

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L to R. Saint Lucia’s Prime Minister, the Honourable Allen Chastanet and Mr. Rodinald Soomer, CEO of the CDF exchange signed agreements.

(PRESS RELEASE VIA SNO) – On Friday 16th March 2018, the CARICOM Development Fund (CDF) and the Government of Saint Lucia signed two (2) grant agreements for a combined value of US$452,800 (EC$1,222,560), to provide technical assistance to strengthen the institutional infrastructure and implement new programmes for trade competitiveness and tourism development:

i. US$332,800 (EC$898,560) for the development of a revised National Export Development Strategy for Saint Lucia, coordinated by the Trade Export Promotion Agency (TEPA) to strengthen the export capability of the Member State; and

ii. US$120,000 (EC$324,000) to establish the institutional framework and roadmap for Village Tourism, coupled with the provision of business development support to Small and Medium Sized Enterprises (SMEs) to enhance their capacity to provide goods and services for the Village Tourism market.

These agreements constitute the first tranche of support being provided to St. Lucia during the CDF’s Second Funding Cycle (2015-2020), and will form part of a broader Country Assistance Programme (CAP) intended to deliver benefits to the Member State through targeted initiatives in investment, export promotion and enterprise competitiveness.

During the CDF’s First Funding Cycle, Saint Lucia received US$6.2 Million (EC$16.7 Million) in support in the form of three (3) grants and a concessionary loan to finance programmes for export promotion, youth agri-entrepreneurship, energy efficiency and SME development.

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3 comments

  1. That is a whole set of words. What exactly they intend to do is shrouded in a lot of darkness. With such opacity positive end results are in grave doubt as usual. Some people apparently are being paid to do a lot talking while they do nothing else.

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  2. This so-called Fund is tone deaf about economic diversity. W. Arthur Lewis spoke of diversification.

    W. Arthur Lewis, notwithstanding his image on our currency, is still being largely ignored in the region---even today.

    Is it because he came from a small island? When will the people of CARICOM ever learn? Locally, we are content on having shifted our dependence from bananas to tourism. In the heyday of bananas, when the GDP was high, we did not diversify. We have learnt nothing from our economic history. Therefore, we are condemned to to blissfuly repeat it.

    Notice how our high chair warming bureaucrats and the so-called political elite are hellbent, deepening our national economic dependence, by engaging in operations, but seemingly know nothing about the income yield from their various streams of expenditure and government subsidies. Case in point, differential tax rates and subsidies skewed in favour of the tourist sector with little thought about economic independence and inclusion.

    The majority of their decisions are not data based.

    What studies have informed their decisions? Absent such foundations, and without a guiding philosophy of social inclusion, these decision makers continue to swell the ranks of the educated, while they simultaneously remain deeply ignorant of the socio-economic ramifications of their decision making.

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  3. It would be helpful to know where the already donated USD $6.2 Million went, and what it was used for...

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