Dominica to receive loan funding from CDB to counter COVID crisis

Dominica is to benefit from loan funding from the Caribbean Development Bank as the country faces an economic downturn caused by COVID-19.

The Bank’s Board of Directors has approved a total of US$66.7 million of which Dominica will receive 2.5 Million US dollars or just over 6.7 million EC dollars.

Dominica is among 7 regional countries to benefit from these emergency loans.

The others are Belize (US$15 million), Grenada (US$5.9 million), Saint Lucia (US$10.8 million), St. Vincent and the Grenadines (US$11.3 million), and Suriname (US$8.2 million).

The Bank says the emergency loans, being made available under its most concessional terms, will provide vital liquidity.

It will also increase governments’ fiscal space to allow these countries to promptly meet their urgent financing needs without diverting resources away from critical social expenditures or health emergency needs.

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2 Comments

  1. RandyX
    May 20, 2020

    Yet another loan… When does our Finance Minister see fit to address the nation to update the citizens as to how much the state of Dominica is actually in debt. I would also be of interest to find out how he plans to service these debts and where that money is ultimately supposed to come from. Now don’t come and tell me from the sale of passports because that avenue has been explored, the money subsequently squandered and the country has nothing to show for it. Not even the accounts we have seen! Now don’t come and tell me about housing program either because that is just another white elephant that was created to win elections. It doesn’t and it will never benefit the country as a whole, infact going forward it will be a liability because none of those tenants can afford the upkeep of those properties, let alone pay rent for it. This was an election gimmick and it also served as a smoke screen for a huge proportion of CBI income!!!

    Well-loved. Like or Dislike: Thumb up 10 Thumb down 4
    • Gary
      May 23, 2020

      Your ignorance is so pathetic. Let me ask you, can you suggest a method or an alternative to what The Government needs to do in times like this. Have you ask yourself where the US and EC Countries get the monies to stimulate their economies and help their citizens through this Pandemic crisis, it’s borrowed money, do you think it is from there reserve. As to the rest of your comment regarding The CBI, it’s all recycle nonsense, with innuendos from your lazy mind coupled with your partisan political beliefs not taking the time to look at the facts, such foolishness by you does not affect the reality of what is, believe what you want.

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