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CDF releases first tranche of funding
Balford Henry
Friday, September 26, 2008
Approximately $480 million was paid out on July 26 - the first tranche of funding from the Constituency Development Fund (CDF), which allows members of parliament to finance their local projects.
All members of parliament had an allocation of $8 million in the first tranche and all projects were approved, Prime Minister Bruce Golding told the House of Representatives Tuesday.
However, the prime minister pointed out that about 30 per cent of the MPs did not utilise their full allocation and have balances which will be carried forward to the second tranche.
He said that each of the 60 MPs has an allocation of $12 million in the second tranche. The CDF management unit has already received $480 million of the amount and the additional $240 million will be made available by the Ministry of Finance and the Public Service on request.
The unit, which is located in the Office of the Prime Minister, is still receiving and processing projects for submission to the parliamentary committee for the second tranche. The committee meets weekly at Gordon House.
Projects to date have covered areas such as small infrastructure, training and development in farming communities, economic enablement, and road repairs and drain cleaning.
The fund is shared equally among the 60 constituencies. Each MP should get approximately $40 million this year.
It was conceived by Golding in 2006 to help fund rural development.
The Jamaica Labour Party (JLP) made it an important aspect of its 2007 election campaign, promising to finance it with 2.5 per cent of the budget within its first 100 days in office.
Although instituted on time, the fund has been severely compromised by budgetary constraints and ended up at half of a per cent of this year's budget, or $2.4 billion.
http://www.jamaicaobserver.com/news/...OF_FUNDING.asp
Balford Henry
Friday, September 26, 2008
Approximately $480 million was paid out on July 26 - the first tranche of funding from the Constituency Development Fund (CDF), which allows members of parliament to finance their local projects.
All members of parliament had an allocation of $8 million in the first tranche and all projects were approved, Prime Minister Bruce Golding told the House of Representatives Tuesday.
However, the prime minister pointed out that about 30 per cent of the MPs did not utilise their full allocation and have balances which will be carried forward to the second tranche.
He said that each of the 60 MPs has an allocation of $12 million in the second tranche. The CDF management unit has already received $480 million of the amount and the additional $240 million will be made available by the Ministry of Finance and the Public Service on request.
The unit, which is located in the Office of the Prime Minister, is still receiving and processing projects for submission to the parliamentary committee for the second tranche. The committee meets weekly at Gordon House.
Projects to date have covered areas such as small infrastructure, training and development in farming communities, economic enablement, and road repairs and drain cleaning.
The fund is shared equally among the 60 constituencies. Each MP should get approximately $40 million this year.
It was conceived by Golding in 2006 to help fund rural development.
The Jamaica Labour Party (JLP) made it an important aspect of its 2007 election campaign, promising to finance it with 2.5 per cent of the budget within its first 100 days in office.
Although instituted on time, the fund has been severely compromised by budgetary constraints and ended up at half of a per cent of this year's budget, or $2.4 billion.
http://www.jamaicaobserver.com/news/...OF_FUNDING.asp