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Petrocaribe Development Fund joins in celebrating Petrocaribe’s 10th Anniversary

Article, Press Releases — September 03, 2015



The PetroCaribe Development Fund (PDF) was formed in 2006 to manage the proceeds which accrue to Jamaica under the PetroCaribe Energy Cooperation Agreement. Under this Agreement, the Government of Venezuela agreed to convert a portion of each payment due for petroleum products supplied to Jamaica’s state owned refinery, into a long term concessionary loan. The Agreement governs the parameters within which the Fund operates and specifies the economic and social priorities that remain paramount to the Fund.  These priorities include: upgrading of physical and social infrastructure, development of human resources, and promoting the use of alternative energy.

This year marks significant milestones in the history of diplomatic ties between Jamaica and Venezuela. While recognizing the significance of 50 years of strong diplomatic relations between the countries, on September 5, 2015, the GoJ will be hosting the PetroCaribe Energy Co-operation Summit at the Montego Bay Conference Centre, to commemorate the 10th Anniversary of the PetroCaribe Agreement.  The commemoration of the 200th Anniversary of the arrival of Simon Bolivar to Jamaica and his writing of the “Carta de Jamaica” will take place on September 6, 2015, and will be heralded with an official opening of the Simon Bolivar Cultural Centre in Downtown, Kingston, North Parade.

The PetroCaribe Development Fund (PDF) will be giving financial support to these celebrations as well as making other contributions in the form of a commemorative magazine, a documentary on the impact of PetroCaribe in Jamaica, newspaper supplements and an audio-visual display at the Conference Centre at the Summit.

The PDF has also spearheaded the production of two publications; a booklet containing the Spanish and English versions of the Jamaica Letter and a combined publication of the Jamaica Letter and a book entitled Simon Bolivar: History and Myth.

The plans are to have these publications distributed at the PetroCaribe Summit as part of gift packages from the Government and people of Jamaica, and also to have them available at schools, libraries and other institutions. They will serve as mementos to commemorate the passage of 200 years since the arrival of Simon Bolivar and his drafting of the Carta de Jamaica.


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