Texan billionaire Allen Stanford plans to launch an annual Twenty20 tournament involving 17 Caribbean nations and a professional Super League.
"It augurs well for the future of our cricket," said Lloyd. "It's going to be well organised and our players have a lot to gain from it. I hope it can turn our cricket around."
"The time has come for us to bite the bullet and try and get to those halcyon days again," said Lloyd. The new concept will differ from the traditional West Indies cricket in that there will be no composite sides like Leeward and Windward Islands, with each country fielding its own team.
Lloyd believes new talent will be unearthed as a result of Stanford's plans. "This is a very good incentive. I feel that in order for us to get back to the top of the ladder, we must improve our infrastructure, improve our domestic cricket, and once we've a good structure, we'll have better Test players," he insisted.
"You can't say we'll do this, and do that and not have a plan. You must have a plan if you want to go forward," he stressed.
Stanford's plan is the biggest single investment for cricket in the region, beating current 10.5million deal with the West Indies team sponsors Digicel.