Canada Approves CAD$7 Million For Debt Management

Eastern Caribbean Central Bank - St. Kitts

Eastern Caribbean Central Bank – St. Kitts
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
August 19, 2008

Member countries of the Eastern Caribbean Currency Union (ECCU) are to benefit from a Debt Management Advisory Service funded by the Government of Canada.

The Canadian Government through the Canadian International Development Agency (CIDA) has approved a contribution of seven million two hundred thousand Canadian dollars (CAD $7, 200,000.00) for the establishment of a “Canada – Eastern Caribbean Debt Management Advisory Service,” the St. Kitts – Nevis based Eastern Caribbean Central Bank said Tuesday.

The ECCB said the service is designed to support measures to improve debt management in the Eastern Caribbean Currency Union (ECCU).

CIDA, represented by the Canadian High Commissioner for Barbados and the Eastern Caribbean, His Excellency Mr. David Marshall and Mr. Trevor O. B. Brathwaite, Deputy Governor of the Eastern Caribbean Central Bank (ECCB) on Monday noted the importance of debt management among the member countries of the Currency Union to enable the region to achieve a sustainable rate of economic growth.

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Nevis Agro-Processors Receive CIDA Grant

Mr. Augustine Merchant

Mr. Augustine Merchant Of The IICA

Charlestown, Nevis
May 16, 2008

The Nevis Agro Processors Cooperatives Society received of a grant of over EC$50,000 from the Canadian International Development Agency (CIDA).
Making the presentation on behalf of CIDA on Wednesday May 14, 2008 at the Department of Agriculture’s conference room at Prospect, Mr. Augustine Merchant who is also the St. Kitts and Nevis representative for the Inter-American Institute for Cooperation on Agriculture (IICA), said the agro processors would now be further on the road to success and the Canadian government should be highly commended for this effort.
“Over the past couple months, the Agro-Processors along with myself made approaches to CIDA. A proposal was drawn up requesting assistance in getting some equipment to help to furnish the facility which has been built.
“In this regard CIDA have seen some of the work that the agro processors have done and have been very impressed by the work they have been doing. They were very gracious in giving the agro-processors a grant of EC $56,583.71 and I think this is very commendable, he said.
The IICA representative who secured the grant said the international funding agency’s association with the processors dated back to 2002, when it provided some technical assistance in the form of training to for members, which was evidenced he said, in a marked improvement in the quality of products  which the agro-processors have done.

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