Dominica: Dominica is getting ready to fully utilise a just approved rehabilitation loan of US$4.1 million, according to a Dominica News Online report.
The loan agreement was signed in Roseau by Caribbean Development Bank (CDB) President, Dr. Warren Smith, and Dominica’s Acting Prime Minister, Ambrose George, on Thursday.
The DNO stated that Dr. Smith said the new loan to would help Dominica reduce “risks associated with landslide and flood hazards in the Roseau Valley”.
The CDB official also explained that the proposed works would reduce the vulnerability of the project sites and communities to future adverse weather-related events.
It will include restored and upgraded infrastructure works in the St. Aroma and Laudat areas.
Acting Prime Minister, Ambrose George, had praise for the CDB, whose board of directors approved the loan on Wednesday, paving the way for Thursday’s official signing.
He lauded what he described as a rapid CDB response, and said the finance approved by the bank would help enhance safety and protection in the road network areas where the work will be carried out.
The Caribbean Development Bank is holding a series of meetings in Dominica this week, with one of the key matters involving negotiations for replenishing the bank’s Special Development Fund that offers loans at concessionary rates to member borrowing countries including Dominica, the DNO report said.
You must be logged in to post a comment.