Prime Minister Roosevelt Skerrit has said his administration is committed to making capital investment much cheaper through new packages now being offered by the Dominica Agricultural Industrial and Development (AID) Bank.
The Prime Minister told a recent forum organized for returning nationals that his Government has been able to negotiate new packages at the AID bank to attract investors wanting to do business on the island.
“We had to go out there to negotiate new packages under better terms and conditions. We moved the AID Bank from borrowing from people at eight and nine percent to now the AID Bank is borrowing from global institutions at three and four percent. The bank therefore is able to have a spread of two or three percent which is a result of a direct concerted intervention by the government of Dominica,” the prime minister said.
In light of this he is advising overseas based nationals wishing to invest in Dominica to consider securing loans from the AID Bank.
“Through the AID bank we have created tremendous opportunities for the private sector and the private sector can apply to the AID Bank if you have a sustainable investment. There are many of your compatriots who have returned to Dominica who have contracted loans from the AID Bank,” he said. “We have been able to drop the interest rates from what used to be about 11 and 12 percent to an average of 6.5 percent for the private sector, making capital investment much cheaper.”
The Prime Minister also disclosed that housing loans have been made available to Dominicans through the AID bank and Government’s housing loans board at five and four percent interest rates.
for allu to take my title like how allu kaiboche garraway….. belle beff
The government is better of making the climate more investment friendly. The infrastructure sucks. It sucks to do business lack of int airport. Access is mind boggling and time wasting. Taxes, including your cow Vat. Endless time spent at customs. Electricity costs horrible. Transfer costs (incl. legal fees horrible. The only transaction that works is the direct sale of passport. No hassle, just pay, get passport with no investment.
Where is the 6.5% loan from the AID Bank Mr. Skerrit? This blatant misrepresentation of the truth is insultive.
I recommend that anyone should go to the AID Bank on Tuesday and request a 6.5% loan for business and report to DNO.
In fact, DNO please do a fact check, go to the AID Bank and then report to your readers. I will wait for your guidance on the TRUTH.
It would be interesting to conduct a survey to see where the majority of returning nationals the PM was addressing were returning from. I am almost certain that the majority of them were not coming from Cuba, China, or vezuella but the USA?
DNo, I raise this question because there are so many Dominican residing in the USA and most of our cable channels are sourced from the USA, and yet DNO tells us very little, if any, about the most important US presidential election on Tuesday. In the comparison, when Venezuella was about to have their election in October, a week would not go by without DNO posting something. My question to DNO is, how many Venezuelan / Dominicans are employed, inevesting, returning and contributing to our economy? How many Dominicans are paying their bills because they are employed by a US firm or business? Do we take time to think of Ross University and where they from? Based on our US interest, I just believe that DNO should not allow a week, if not a day, to go by without highlighting such aa important election. Are we anti USA?
ADMIN: Aren’t we already over-saturated by news from the US?
So DNO, you mean to say that’s why you not giving us a chance to analyze what many people believe is the most important election in the US? Yes, I know we are saturated by news from the US but this is of national importance. The result of this election could affect us more than our local election in DA since so many of our people are depending on the barrels that come from the US. Boy all you just don’t like the US! Just kidding ok.
PPL U DOH C DNO PLAIN PARTY POLITICES.
hey question for you, when was the last time you
saw America, did something for Dominica. Please tell me so I can look it up.
America base, the fact that you are based in America is proof that you are benefitting from them. Ask the PM how many scholarships from the US he gets every year. Also, take a trip to Possie and drive from Possie to Picard infact up to Roseau, and you will see what the US is doing for us.
Modern day salary increases could help those investmesnts more meaningful in the island, else we’ll be producing for export, because everthing according to you seems to be getting better except the standard of living of you ppl.
While all this is great and exciting the question remains the amount of the fixed deposit that the bank is requesting and in addition expecting persons to take on a burden of insurance coupled with all the other ridiculous criteria that are not listed on their website the entire two thousand dollar salary is rendered useless. Trust me I have attempted the procedure. You are better off just putting up with a miserable landlord of free-loading family members.