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BRIDGETOWN, Barbados, Mar.2, CMC – The Barbados-based Caribbean Development Bank (CDB) says the first formal negotiation meeting of Contributors to the Special Development Fund (SDF) will be held in Dominica next week.
It said the March 6-9 visit will include site visits to projects funded by the SDF to give contributors to the Fund an opportunity to see how the resources have been utilised.
“Now in its seventh cycle, the SDF is CDB’s largest source of concessionary finance for providing soft loans and grants to its Borrowing Member Countries. Replenishment of the SDF takes place every four years. The current cycle will end on December 31, 2012, and the resources which were made available for SDF 7 are expected to be fully committed by that date,” the bank said in a statement.
It said that a preparatory meeting of Contributors had taken place last December to agree on the themes, issues and timeline for the SDF 8 replenishment discussions and that other negotiation meetings are scheduled for May, July, October and possibly December 2012.
The CDB said that its 250th Board of Directors meeting will also be held in Dominica next week.
CMC/ir/2012