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Petrocaribe marks quiet 15th anniversary

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Posted: Tuesday, June 30, 2020. 10:06 am CST.

By Aaron Humes: Monday, June 29th was the 15th anniversary of the formation of Petrocaribe by late Venezuelan President Hugo Chavez.

And his successor Nicolas Maduro has pledged to “strengthen the regional energy mechanism in order to counter the U.S. economic blockade against his country,” according to Prensa Latina.

Maduro highlighted on Monday the role of Petrocaribe as an integrating and cooperative entity between the countries of Latin America and the Caribbean.

The member countries of the Bolivarian Alliance for the Peoples of Our America- People’s Trade Treaty (ALBA-TCP) will participate in a meeting of the bloc.

Maduro recalled that Petrocaribe was intended to guarantee fair and equitable access to hydrocarbons on the basis of the principles of solidarity, complementarity and self-determination of Latin American and Caribbean peoples.

The block is made up of Antigua and Barbuda, Bahamas, Belize, Cuba, the Dominican Republic, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Saint Lucia, Suriname and Venezuela.

Belize has largely suspended its participation and owes more than $400 million in loans dating back to 2013, the majority of which was used to fund various infrastructure projects.

 

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