This follows a decision of the  20th OECS/PPS Policy Board meeting in Anguilla of September 2006 where it was agreed to distribute  $500,000 of OECS/PPS’ matured investments to the countries involved in the bulk purchasing arrangement.

The biggest portion of the matured investments was on Friday given to St. Vincent and the Grenadines who is the largest purchaser under the OECSPPS arrangement. The St. Vincent and the Grenadines allocation, which was computed, using the average income earned during the past eight years, amounted to $109,697. St. Vincent and the Grenadines, the second most populous OECS country with 18% of OECS population accounts for 25% of regional purchases under the OECS PPS bulk purchasing arrangement.

Dividends from the OECS PPS matured interests have also been distributed to Dominica and St. Kitts and Nevis. Dominica’s allocation has been invested into the rebuilding of that island’s Chief Medial Stores, while the funds allocated for St. Kitts and Nevis will be used to purchase a vehicle for distributing Pharmaceuticals there.

Director of the OECS PPS Francis Burnett says the rebate of OECS/PPS’ investment holdings has reinforced the economic benefits which can be accrued by sub-regional functional and economic cooperation.

The OECS Pharmaceutical Procurement Service is encouraging the OECS Members States to redirect most of the investment proceeds to improving the pharmaceutical infrastructure in their steadfast commitment towards improving healthcare.