In the coming years, expect the United Kingdom and the Caribbean to work more closely on efforts to promote mutual growth and economic resilience.
The parties agreed at a recently concluded forum to establish a strategic partnership that will create a practical mechanism to promote investment, production, trade and employment both in the United Kingdom and the Caribbean region.
The United Kingdom also promised to help champion the needs of Caribbean countries in international forums such as the Group of 20 annual meetings.
The forum was attended by officials from the Caribbean Community and the United Kingdom, led by Foreign Secretary William Hague. The U.K. delegation came armed with plans to invest up to $116.5 million in the Caribbean over four years — a “considerable increase” from what the donor has been providing the region in recent years, IPS News reports.
The action plan adopted at the end of the forum hints at where this money will likely be invested: support for small and medium enterprises, development of the region’s tourism sector, efforts to enhance food security and agricultural productivity, and climate finance.
Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.