The CARICOM Development Fund, as it is known, has a target of US$250 million.
CARICOM Secretary-General Edwin Carrington met with Chinese officials while in China to sign the agreement for CARICOM to participate in the World Expo 2010, set for Shanghai, China.
After two days of discussions centred on co-operation between China and CARICOM, he said those officials agreed to give careful consideration to contributing to the CARICOM Development Fund.
Mr. Carrington said the discussions are taking place against the backdrop of China's recently issued Policy Paper on Latin America and the Caribbean and that country becoming a member of the Inter-American Development Bank.
The Bahamas has decided against becoming part of the single market and economy – consideration of whether to join CSME or not occasioned heated debate in the country.
The Bahamas is one of ten CARICOM nations intending to participate in the World Expo 2010.
Mr. Carrington signed the agreement for CARICOM’s participation in the Expo on Thursday, and explained that there would be a joint Caribbean Community Pavilion, with individual country stands that will reflect the distinct characteristics and identity of each participating country.
In addition to The Bahamas, Antigua and Barbuda, Barbados, Dominica, Grenada, Guyana, Haiti, Jamaica, Suriname and Trinidad and Tobago are set to take part in the expo.
On Thursday he outlined the form of the region’s participation in the event. Mr. Carrington said it would take the form of a Joint Caribbean Community Pavilion, with individual country stands that will reflect the distinct characteristics and identity of each participating country.
As participants, Mr. Carrington said, CARICOM nations will be able to showcase some of the responses being developed to various regional challenges. He added that valuable lessons could also be learned from interactions with the record number of participants from around the world that will be present at the Expo, as regards their experiences and best practices in addressing these challenges.
"The drift from our rural to our urban centers by significant numbers of our population makes it imperative that issues such as increased green open spaces, improved refuse collection, efficient water management, reliable and affordable electricity, less congested streets and highways, reduced noise pollution and environmental degradation are addressed so as to ensure an enhanced quality of life. Our citizens are entitled to nothing less," he said.
The CARICOM Secretariat, which will also be participating within the Joint Pavilion, will focus on the contribution being made to meeting those challenges through the collective approach of our regional integration process.
Participation in World Expo 2010 by many countries, including those of the Caribbean Community and the CARICOM Secretariat is being made possible through the generosity of the government of China and the Organizers of World Expo 2010 Shanghai.
The theme for World Expo 2010, Shanghai is "Better City, Better Life."
