(CARICOM Secretariat, Turkeyen, Greater Georgetown) Spain is taking a first step towards joining the Caribbean Development Bank (CDB) by contributing to the Special Development Fund of the Bank. Spain also specifically offered assistance in establishing the Regional Development Fund which is a key element of the CARICOM Single Market and Economy.
The announcement was made by Spain during the III CARICOM- Spain Summit which ended in Madrid on Thursday.
Immediate past chairman of the Conference of Heads of Government of the Caribbean Community, Dr the Hon Kenny D Anthony, Prime Minister of Saint Lucia welcomed Spain’s initiative and said he hoped discussions will be advanced to enable Spain to become a member of the CDB as soon as possible.
The CARICOM leaders expressed satisfaction at the outcome of the meeting as did Secretary-General His Excellency Edwin Carrington who described the Third Summit as the “most productive and valuable of all.” Spain’s Prime Minister Mr Jose Luis Zapatero at the closing press conference said the discussions were fruitful and friendly and earlier had expressed the hope that CARICOM would consider Spain a privileged friend.
Spain expressed its willingness to assist the Community in its approaches to the wider European Union (EU) with respect to the issues regarding banana and sugar. CARICOM’s lead Head of Government with respect to the issue of bananas, Dr the Hon Ralph Gonsalves, Prime Minister of St Vincent and the Grenadines, outlined the difficulties encountered by the region in its attempts to access in a timely manner the funds agreed to since 2001 under the Special Framework Assistance (SFA). The SFA is intended to help offset the dislocations in those countries suffering from the adjustment of the EU’s banana regime as imposed by the World Trade Organisation (WTO).
Dr Gonsalves pointed out that though the funds had been agreed to since 2001 and all the procedures asked for by the EU had been complied with, to date none of the funds had been disbursed. Dr Gonsalves also highlighted the extent of the environmental degradation caused by the farming of bananas and the need for resources to combat the problem.
The Hon Dr Denzil Douglas, Prime Minister of St Kitts and Nevis emphasised the need for the EU to maintain the level of assistance promised to the sugar producing countries affected by the EU’s changes to the long-standing Sugar Protocol. Dr Douglas pointed out that the original sum of 190 million euros had been diluted to 130 million and suggested that resources could be tapped from unallocated funds under the Ninth European Development Fund (EDF). The Prime Minister also insisted that the funding should be “front loaded” to expedite the required economic restructuring.
At the conclusion of the summit with Spain the leaders signed a Joint Declaration before departing for Vienna, Austria, where they are attending the Fourth EU-LAC Summit which opened today Friday.
