Caribbean development bank loan approval to Dominica
The government of Dominica signed a deal with the Caribbean development bank (CDB), for a rehabilitation loan of us$4.1 million on Thursday march 8th.
The loan agreement was signed by Caribbean development bank (CDB) president Dr Warren smith, and Dominica’s acting Prime Minister Ambrose George.
Mr. Smith says he is pleased to be associated with this project, since the CDB takes its role in assisting the commonwealth of Dominica.
Mr. Smith says this project is to reduce risks associated with landslides, and flood hazards in the Roseau valley.
It will include restored and upgraded infrastructure works in the St Aroma, bath estate and Laudat areas.
Acting Prime Minister Ambrose George thanked the CDB for what he describes as a rapid response, and says the finance approved by the bank would help enhance safety and protection in the road network areas, where the work will be carried out.
Mr George says, they government of Dominica will continue to show their capabilities to do good quality work, and complete it within the project’s time frame.
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 ban’s special development fund, which offers loans at concessionary rates to member borrowing countries including Dominica.