The Petrocaribe (Special Purpose) Fund Bill is one of four bills passed at a meeting of parliament on Thursday 24th June, 2016.
The Bill is to provide for the establishment and proper administration of the Petrocaribe (Special Purpose) Fund and connected purposes.
Presenting the Bill, Prime Minister Dr. Ralph Gonsalves stressed that it intention is to ensure greater accountability in relation to the Petrocaribe funds.
Opposition members of Parliament did not support the measure.
Petrocaribe is an oil alliance of many Caribbean states with Venezuela to purchase oil on conditions of preferential payment.