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Grenada, CARICOM Development Fund to Sign $5.8M Agreement

By: Caribbean Journal Staff - October 25, 2013

Above: Grenada

By the Caribbean Journal staff

Grenada and the CARICOM Development Fund will be signing a $5.83 million agreement on Monday.

The pact will be signed by Grenada Prime Minister Dr Keith Mitchell and CARICOM Development Fund CEO Lorne McDonnough.

It will focus on four areas: a line of credit to the Grenada Development Bank for lending to small and medium-sized businesses; technical assistance to the GDB for the preparation of business plans for SMEs; standards, metrology and certification and energy development, with a particular focus on energy efficiency in the tourism sector.

The latter involves direct grant assistance for the implementation of energy plans for Grenada’s hotel sector, in partnership with the Grenada Hotel and Tourism Association.

The Country Assistance Programme will provide support in areas including tourism, agriculture and manufacturing, according to the government.

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