The Caribbean Development Bank (CDB) is expected to take contributors of the Special Development Fund to Dominica from March 5th-9th 2012.
Deputy Director of Cooperate Planning Division at the Caribbean Development Bank Monica La Bennett is leading a mission to Dominica ahead of next years meeting.
She told a press conference here that special fund is the largest source of concessionary resources in the bank which provides low interest loans and a number of grants to the borrowing member countries.
“We have 18 of those in the banks. Starting from the north, we have Belize and Haiti, all of the OECS countries, five British overseas territories, Barbados, Trinidad and Guyana. Many of those countries benefit from the special fund and a large part of the special fund is the Basic Needs Trust Fund. That is totally grant and there are ten countries that benefit from that and Dominica is a major beneficiary of that fund,” she said.
She says the CDB Special Development Fund will have the opportunity to see projects funded by the regional institution in Dominica.
“The Special Development Fund is replenished every four years and the current seventh cycle ends in 2012 and we are going to start negotiations for a replenished fund in March. We want to bring the countries officials here with us to Dominica and have them, while they are here,taken to project sites so they could see what the funds has done,” she explained.
This is very interesting. all the project that has been going on in Dominica we have been told were Chinese grants and load now we’re hearing about central bank visiting to see the project they founded. i just hoe this is not going to be an issue where the government of Dominica going to show Chinese project and say thats where the money go.
poor guy,I guess you just woke up