Barbados and the other countries which now contribute to the CARICOM Development Fund could soon have access to greater benefits under the fund.
Outgoing Chairman, Dr. Sherwyn Williams, says up until now all the fund’s resources have been channelled to the less developed countries in the region.
But this will change under a new business model known as the CARICOM Cohension Policy.
Dr. Williams says opportunities to partner with international development agencies in the areas of renewable energy and energy efficiency have so far remained underexploited.
That’s why the CDF is preparing to roll out a new financial product known as the Credit Risk Abatement Facility in 2020.