Caribbean leaders say proposed cuts to the U.S. State Department’s foreign aid budget could have serious implications for the region and the United States at a time when there is increasing concern about terrorism. Fears have been sparked that a proposed 28 percent reduction in the State Department’s budget would force it to slash programs like the Caribbean Basin Security Initiative introduced by President Barack Obama in 2009 to improve citizen safety throughout the Caribbean with U.S. assistance. In additional, a proposed $800 million cut in the U.S. Treasury’s budget would severely impact U.S. anti-money laundering and efforts to halt terrorism financing in the Caribbean. The cuts would further exacerbate the pullout by U.S. banks from the Caribbean. Known as “de-risking,” the withdrawal of the banks “has the potential to destabilize Caribbean economies.