Povert AlleviationThe Government of Dominica in collaboration with the Caribbean Development Bank (CDB) on Wednesday 29th May 2013 will launch an EC$12.2 million project, which will finance a number of poverty alleviation projects throughout the country.

CDB will provide a grant of EC$10.6 million, with the Government of Dominica expected to provide counterpart funding of EC$1.6 million.

The funds for the project are Dominica’s allocation under the Bank’s Basic Needs Trust Fund (BNTF) which is now in its seventh cycle. This year’s allocation represents an increase of approximately 40% in CDB funding over the BNTF 6th project.

The increase in funding means more money will be made available for projects in three key areas of focus under BNTF 7 which includes Education and Human Resource Development, Water and Sanitation Enhancement, and Basic Community Access and Drainage Enhancement.

The funds will be targeted toward poor areas of the country, with the poorest areas receiving the most attention.

The project launch will take place at an official ceremony at the Fort Young Hotel at 8:30 a.m.

A delegation from the CDB headed by Darran Newman Belgrave, Portfolio Manager of the CDB’s Social Sector Division, will join Prime Minister Roosevelt Skerrit in launching this latest cycle of the BNTF in Dominica.

The project will provide funding for sub-projects, Project Management Support, Institutional Development and Monitoring and Evaluation and will be implemented by the Basic Needs Trust Fund.

The BNTF Programme is a regional grant programme for poverty reduction infrastructure and livelihood enhancement services. Over its 33 years of existence, the program has disbursed over US$189 Million regionally. Ten countries, including Dominica, currently benefit from the BNTF.