CDB to decide on financing for marijuana industry

(Barbados  Today) The jury is out on if or how the Caribbean Development Bank (CDB) will support the fledgling regional cannabis industry as Barbados and several other Caribbean states seek to get a piece of that proverbial pie.

Responding to questions during the bank’s annual news conference on Tuesday, President Dr Warren Smith acknowledged that some states were “legitimizing” the marijuana industry and he expected that trend to continue.

“I believe it is a legitimate industry for our countries to pursue as long as it remains within the law. That is the position I think we would want to take at the Caribbean Development Bank. As to whether we finance the development of that industry or not, who knows? It could be that it could be through the small business sector. I don’t know,” Smith told journalists.

So far, Jamaica, St Vincent and the Grenadines and Antigua and Barbuda have approved marijuana cultivation for medical purposes and in some cases sacramental use.

Barbados introduced legislation late last year in the form of the Medicinal Cannabis Industry Act, laying the groundwork for a build out of the industry to commence this year.

Read more at: Barbados Today

Source: CARICOM TODAY