Jamaica Benefiting From PetroCaribe Agreement
A total of US$1.2 billion in concessional financing has been provided to Jamaica in the form of long-term loans, based on oil purchases from Venezuela under the PetroCaribe Energy Co-operation Agreement. The multifaceted arrangement, which commenced in 2005, seeks to promote energy security in the region, by guaranteeing supplies of petroleum products from Venezuela through an innovative repayment system, which...