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Wednesday, September 06, 2006 

Caribbean countries failing to take advantage of aid
Web Posted - Wed Sep 06 2006
By Marita Greenidge

DR.Kathleen Gordon, Deputy Director of Information Technology at the Caribbean Development Bank (CDB) has accused Caribbean countries of failing to take advantage of the funding sources available to them.

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The availability of funds could be made accessible through technological access. These Caribbean countries have Internet access. This allows for a web site to be created that informs, administers, counsels, and markets the availability of funds for certain Caribbean projects.

This could be supported by the CDB and administered by this alternate Internet company. One way of looking at this is the manner in which the webiste Lending Tree.com operates.

This Caribbean internet site would operate in a similar manner although due to governmental its affiliation contacts it would be highly regulated and must adhere to various rules and policies. Caribbean countries would receive an informal non-binding monetary agreement by various competing lenders/providers.

After a selection is made all of the administrative procedures would be done by the Internet company and the lender would then take over the principal. The web site would obtain a fee for administration.

This is a simple example of how these countries can use technology with the assistance of the CDB to allow for funding to be made available to developing Caribbean countries.

This is an interesting approach vis-à-vis the management/disbursements of aid for the region.

In my opinion one of the most challenging aspect behind those questions is the lay out of the institutional frameworks needed to monitor the performance of aid. An aspect which is sine qua non with a thorough understanding of the operational constraints behind the delivery of foreign aid, and the ability/willingness of recipient countries to absorb those funds through the most transparent and effective strategies to strengthen development at local levels.
Thus, the issues of information (reliability and management), political willingness and above all inclusive stakeholders' participation in development endeavors are critical to leverage and measure the outputs and performance of aid funding for some development projects in the regions.

Thanks for your comments.

Cheers -- -- Emma

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