Saint Lucia To Benefit From €50 Million Italy- CDB Project Agreement

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Saint Lucia’s External Affairs Minister Alva Baptiste has expressed his gratitude to the Government of Italy for its support for the sustainable development of Caribbean Community Member States.

The Minister’s remarks were made in New York on Monday 19th September as he signed an agreement between the Caribbean Development Bank (CDB) and the Government of Italy for a concessional 50 million Euro soft loan from Italy to the CDB.

Minister Baptiste signed on behalf of Prime Minister Philip J Pierre who is the current Chairman of the CDB, while Italy’s Deputy Minister of Foreign Affairs and International Cooperation, Ms. Marina Sereni, signed on behalf of the Government of Italy.

Participating in the signing ceremony also were the President of the CDB Dr. Hyginus Leon, Ambassador Maurizio Massari, Permanent Representative of Italy to the  United Nations  as well St. Lucia’s Permanent Representative to the United Nations, Ambassador Menissa Rambally.

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The loan to the CDB will allow the Bank to finance sustainable development projects in the following CARICOM countries- Belize, Dominica, Grenada, Guyana, Jamaica, Saint Lucia, St. Vincent and the Grenadines and Suriname. Hon. Baptiste said that Italy had always cooperated with and been a consistent partner of Caribbean countries.

SOURCE: Office of the Prime Minister

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.


  1. Given the economic turmoil Italy faces as winter nears (caused by the EU suicide pact in sanctioning Russia), I am extremely surprised that the government of Italy can even spare the paltry sum of 50 million euros for a soft loan to the CDB.

    I sincerely hope that there are stringent guidelines for the project (very little detail is given in the article) to ensure maximum benefit to the entire region. A viable project comes to mind: Direct training of a cadre of Caribbean business student graduates at Worker Coop universities in either Spain or Italy.

    Application of the lessons they will have learnt would spark an economic revolution, driven by the establishment of worker-owned coops in the region, and enable Caribbean countries to finally be unshackled from African slavery, which has continued, via capitalism, into modern, economic slavery!


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