The government on Friday afternoon will launch its new execution agency, the Climate Resilience Execution Agency of Dominica, CREAD, formed after the passage of Hurricane Maria at the Goodwill Parish Hall.
It was formed as Dominica reconstructs in a climate resilient way, according to Prime Minister, Roosevelt Skerrit.
He explained the mission of CREAD at a CARICOM-UN High-level Pledging Conference in New York in November last year.
“The mission of the agency will be to coordinate all reconstruction work to avoid duplication, maximize economies of scale, spot and fill critical gaps, avoid bureaucratic infighting and ensure all reconstruction activities are focused on a single Climate Resilient Recovery Plan developed by Dominica and its partners,” he stated.
He said his government sees transparency and proper financial management as extremely important and “CREAD will be required to operate to the highest standards of transparency and financial management as well as accountability and community engagement.”
“In developing CREAD, we sought advice from partners from around the globe and studied various examples. Briefings were held for instance with the CEO of the Indonesian BRR. We are speaking to a couple multilateral agencies on establishing a multi-donor trust fund. We will have a German-style supervisory board with a majority of donors to oversee assurance. The internal audit function, and any other assurance functions, will report directly to this supervisory board,” he noted.
He said the agency will be audited externally, will cost $3.5-million a year to operate and a parliamentary committee will provide oversight.
The launch begins at 4:00 pm.