You are here

Trust fund established to help Caribbean manage debt

Wednesday, April 9, 2014

WASHINGTON DC—The World Bank says a successful multi-donor trust fund has launched a new phase with commitments from donors for close to US$20 million to help the Caribbean and other poor countries manage debt. The World Bank said the Debt Management Facility II (DMF II) programme builds on previous success in debt-management advisory work and marks the beginning of a new partnership between the World Bank and the International Monetary Fund.


The partnership will be dedicated to strengthening the capacity of the Caribbean and other developing countries to manage their debt in a manner that is sustainable and encourages economic development, the World Bank said. It said the facility expects to raise US$40 million, adding that the “new pot of money” will extend the work of the first DMF, a US$22 million trust fund that the World Bank launched in November 2008.


The initiative was born out of a recognition that low-income countries graduating from debt-relief programmes, such as the Heavily Indebted Poor Countries, might continue to struggle.





User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.

Guardian Media Limited accepts no liability and will not be held accountable for user comments.

Guardian Media Limited reserves the right to remove, to edit or to censor any comments.

Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.

Before posting, please refer to the Community Standards, Terms and conditions and Privacy Policy

User profiles registered through fake social media accounts may be deleted without notice.