Caribbean Development Bank will support maritime cargo service

The Caribbean Development Bank (CDB) will finance consultancies to explore options and establish a maritime cargo service between Barbados, Grenada, Guyana, Trinidad and Tobago, according to the official statement published today

The initiative that will tax the movement of agricultural products is part of the CDB’s commitment to improve food security in the Caribbean and promote regional cooperation, reported the Caricom Today portal.

Likewise, it highlights the entity’s support for the pact of the member states of the Caribbean Community (Caricom) announced last year that stipulates a 25 percent reduction in food import figures by 2025.

Policymakers have established that intraregional agricultural trade can balance food deficits and surpluses, contribute to price stability and increase the diversity of supplies, said Caricom project director Daniel Best.

In this sense, the leaders of the Caribbean nations identified the lack of adequate regional transportation as an obstacle to the circulation of agricultural inputs and the main cause of food insecurity.

Regarding implementation, Best assured that it will require interventions throughout the ecosystem by involving operational and management changes, land-based facilities, food safety provisions as well as customs operations and plant quarantine.

BDC’s perspectives include spotting opportunities for urgent improvement in shipping capacity, recommending other modalities, and providing solutions that utilize existing shipping assets.

Source: Lao News Agency