Kenya will give the African, Caribbean and Pacific Group of States (ACP)’s new endowment Fund $500,000 (Sh50.8 million).
The ACP set aside the fund to promote the sustainability of the group’s activities.
President Uhuru Kenyatta said Tuesday at the ACP Summit the raft of proposals made at the event would transform the region if implemented.
Kenya now joins Papua New Guinea and Ghana, which have pledged funds that a board drawn from member states would manage. “The wide range of proposals made at the summit can radically transform ACP if fully implemented,” said Mr Kenyatta, who takes over from Papua New Guinea leader Peter O’Neill.
He said he would protect and promote the region’s interests during his three-year term.
“I will be seeking to ensure that we are incorporated into the global economy. We are not looking for dependency because what we want are agreements that ensure a win-win situation for all partners,” said the President.
Barbados Prime Minister Mia Mottley asked member states to shift economic development focus from raising the gross domestic product to ensuring that ordinary citizens feel the impact of the growth.
“We’ve previously been looking at the GDP without considering the social factors such as health indicators,” she said.