(CARICOM Secretariat, Georgetown, Guyana) Chairman of the Caribbean Community (CARICOM) and Prime Minister of Saint Lucia Dr the Honourable Kenny Anthony today (Thursday 3 July 1998) accepted what he described as an "extraordinary" gift for the continued support of the Regional Negotiating Machinery (RNM) of the Caribbean Community.

The gift of US$100 000 was made by Mr Michael Mansoor, President and Chief Executive Officer of the Canadian Imperial Bank of Commerce (West Indies) Holdings Limited in the presence of CARICOM leaders and a host of delegates during the second day of the 19^th Meeting of the Conference of Heads of Government of the Caribbean Community. The presentation took place at the conference site, NIS building, Castries, Saint Lucia..

In opening the presentation ceremony, the Prime Minister of Barbados, the Right Honourable Owen Arthur informed that his government had granted tax concessions to business enterprises in Barbados for their support for the Region's external negotiating process. He described CIBC's contribution as an "important gesture" towards a process which aims to safeguard jobs and trade for the Caribbean.

Mr Mansoor said his company was proud to support RNM . He added that CIBC has been a part of the lives of the people of the Caribbean for the past 75 years and that the contribution to the RNM was a continuation of that process.

The Region's Chief Negotiator, Sir Shridath Ramphal added that the contribution from the regional bank was an important evolution . He expressed the hope that the gesture would mark the "start of private sector contribution of all the countries of the Region."

He stressed that external negotiations was all about the prosperity of businesses, adding that "when business prosper, we all prosper".

Responding on behalf of all the Heads of Government, the CARICOM Chairman expressed the hope that the gift would make a statement to the entire Region. He also stressed the hope that the gesture would inspire other banks to support national and regional initiatives. The RNM was established to manage the Region's upcoming negotiations on behalf of the Caribbean Community with external partners.