by Geralyn Edward

In Caracas, Venezuela

Prime Minister Owen
Arthur's enthusiasm for regional integration is unlikely
to cost him and his Administration significant votes in the coming General Election.

That was the opinion of Caribbean Development Bank (CDB) president Dr Compton Bourne during an interview with the MIDWEEK NATION yesterday in Caracas, Venezuela, where regional delegates are preparing for the 37th annual meeting of the CDB.

"I don't have the impression that regional issues are going to be a major factor in Barbados' [elections] even though I know that there is
a lot of public discussion especially on the movement of people and labour," Bourne said.

"When I listen to the call-in programmes, I hear different viewpoints and I think it is
to Barbados' credit that there is
a lot more informed and sensible discussion on regional matters
than in any other country in the region as far as I can see."

'Mature people'

The CDB boss said he could
not "predict that there is going
to be a fallout for any political
party in Barbados in the elections.
I think people are a bit more
mature on the issue".

Meanwhile, he argued that the regional integration movement had not lost its momentum, noting that one of its key components, the CARICOM Regional Development Fund (RDF), was currently being fine-tuned.

Details on the operation of the proposed US$250 million fund are being prepared for final consideration by regional heads of government in July.

Bourne said it was expected that regional governments would contribute US$100 million, with Trinidad and Tobago providing a sizeable sum due to its oil wealth, while the other US$150 million needed to get the fund off the ground would come from donor countries mainly in Europe.

The CARICOM RDF, while available to all participating countries in the CARICOM Single Market and Economy, will be used by weaker economies to mitigate any fallout from removing barriers to free trade in a single market.