Caricom member states could see their debt burdens lightened once a new initiative by the Caricom Development Fund gets off the ground.
Chief Executive Officer of the CDF, Rodinald Soomer revealed that the fund will be expanding its portfolio of services offered.
He says, cognizant of the economic challenges many of the member states are facing, the fund will be establishing an interest subsidy grant programme.
Mr. Soomer was speaking during a press briefing at the CDF's offices in Haggatt Hall, where he also gave an update on the fund's performance over the past decade, and planned activities for their 10th anniversary.
He says at the end of 2015 the CDF committed to over fifty one million US dollars in funding through various country assistance programmes, and by the end of 2018, that figure is expected to have risen by over twenty million dollars.
The CDF CEO revealed that another programme they will be offering is the credit risk abatement facility, which will encourage the involvement of the private sector, and focus on renewable energy.