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DEVELOPMENT Bank of Latin America and the Caribbean (CAF) on December 16 approved the incorporation of St Kitts and Nevis and Haiti as new shareholder countries.

The decision, taken during a board of directors meeting, opened the door for both countries to access agile and flexible development financing, technical assistance, and knowledge programmes tailored to the needs of small island and climate-vulnerable states, a news release from CAF said on December 16.

Minister of Finance Davendranath Tancoo is currently the chairman of CAF and presided over the meeting.