Parliament approves government’s $27-million IDA loan for housing

The bill was tabled by Deputy Prime Minister Reginald Austrie

A resolution for the authorization of a credit facility from the International Development Association (ID) or World Bank for Dominica’s Housing Recovery Project was brought before Parliament and passed on Monday June 25, 2018.

Government has concluded negotiations with the World Bank for a financing facility in the amount of US$27,800,000 Special Drawing Rights (SDR) comprising of US$7 million IDA loans and US$20,800,000 in IDA grants.

The government of Dominica and the IDA have entered into an agreement whereby the government of Dominica will contract a credit facility in the sum of EC$27 million or approximately US$7 million.

These funds will be used to assist Dominica in the recovery of housing for households affected by Hurricane Maria and to improve the application of resilient practices in the housing sector.

The bill was tabled by the Hon Deputy Prime Minister, Reginald Austrie.

“Approximately 1700 eligible homeowners will be provided with a subsidy in the form EC$42,000 grant, that’s US$16,000,” Hon Austrie explained.

He said further “design and supervision services for construction works for eligible beneficiaries and the establishment and operation of a project implementation unit and an implementation support team” will also be funded through this credit facility.

“This loan is consistent with the government of Dominica debt strategy and is being provided on very concessional terms,” he remarked.

These terms include an interest rate of ¾ of 1% per annum and a commitment charge of ½ of 1% per annum; repayment will be in fifty semi-annual instalments commencing August 15, 2028 (a grace period of ten years).

Hon Austrie says government was able to negotiate those terms based on its fiscal prudence.

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32 Comments

  1. Truth Be Told
    June 29, 2018

    Deputy Prime Minister Reginald Austris said, “This loan is consistent with the government of Dominica debt strategy and is being provided on very concessional terms.”
    Now as a concerned citizen may I ask, which takes Dominica debt levels to? And the debt to income and savings (GDP) ratio is?

    • viewsexpressed
      July 2, 2018

      The Truth is Austrie is unable to answer nor is he competent enough to respond to your question. We have a right to answers as far as it relates to states funds. And the talk out there of corruption, misuse of funds bobol, we have to ask questions,, because like the Boon and Fertilizer Bobol we not trust those pollical comics in this Skerrit’s corrupt labour government. Austrie , you all have failed we the people of Dominica, you all need to be kicked out, Now. YOU have failed the people of Domininca,…you all lack THE BASIC ESSENTIALS to run a Country. Get Out….Get Lost……..Get Going……..Failed corrupt Labour Party

  2. June 28, 2018

    These guys are floating in monies, they must be saying thanks to Marie, for 4hey have it’s not funnyillions to put their sticky fingers in, the very same way he cannot account to the Petro Caribe money, Austrie who laugh last laugh the best, you try to pull a fast one, but you were caught with your pant down and your hand trying one more time trying to take from the cookie jar, this was not a mistake this is a habit, Austrie full me once shame on me, fool me twice shame on you. If you have false teeth time to chage it, if not you need to brush your tongue, you talk like them tooth falling off your mouth

    Yourtried to be funny saying the leader off the opposition read the document, Austrie I

    • Man bites dogs
      July 2, 2018

      Who the hell putting a white man picture to fool black people even white people agree with them!!That just goes to show workers party and supporters are all rubbish. Like me or not i will never stop attacking so-called Linton and his loonys party its within my rights to protests and protect our peoples….

      • viewsexpressed
        July 2, 2018

        Its within your ignorance and blindness to exercise that right of yours. That is an abuse of the term “Right”, because it means to be genuine, to demonstrate honesty, to protect state funds, to be brave and open to talk of corruption and NOT condone. …..due to blind loyalty an afraid to address the truth of open and blatant corrupt practices within the past 18 years. We up here in ministry we know that and silently and quietly as civil servants we talk and share notes and engage with those involved in corrupt practices where so called loyalty like you condone the abuse of states funds while our people suffer in poverty @ made to feel good with a couple handouts. No jobs are being created, only the big boys who are happy benefiting while their boom boom flies promote then and engage them in their bobols and corruption. Man biting Dogs is a disease thatt is self-inflicted and you better go see a doctor or a psychiatrist to open brains to see the corruption in our poor island shameful

      • July 2, 2018

        To you man bi tes dogs, your comments displayed your level of arrogant, your level of discrimination. Yes I am a white man,are you aware of interracial, if not I will educate you. Ay wife is of African Descent/ Dominican by birth. Many of my white families, friends and WHITES all over the world contributed to your island after the devastation caused by Hurricane Maria, your comments shows how ungrateful and racist you are towards WHITES, and to you Racism comes in many different Color, Race, Types, Class etc. Continue biting your dogs, you worthless ungrateful fool

  3. Neville
    June 28, 2018

    Austrie, since you are so prudent with state finances, can you explain to us what happened at PetroCaribe. Why did Venezuela have to write off US$100 Mio.? What happened to all that money? You must know, it happened on your watch at PetroCaribe.

  4. SoY Yo
    June 28, 2018

    Ok, so you have approximately 27.8 Million USD. You want to give 1700 people, $16,000 USD each; fine, that adds up to 27.2 million. You have 0.6 million left over with which you want to manage this project AND give technical assistance?

    On the World Bank’s website, this project is supposed to have funding of 40 million USD: http://projects.worldbank.org/P166537/?lang=en&tab=financial

    So where is the other 12.2 Million gone?

    • RandyX
      June 29, 2018

      In a bank account in the Caymans presumably.

  5. Man bites dogs
    June 28, 2018

    The free money as you idiots call it is to fix and repair peoples and maybe your relatives homes as well bloody idiots, That is why Linton knows how to use you lots, Linton is not stupid he knows by using donkeys he will make mules out of his supporters, Good luck Linton use them stupid desiples of yours.

    • RandyX
      June 30, 2018

      The only idiots on here are you and your comrades. Blind bats that love to live from the crumbs of their masters luxury table.

      • Man bites dogs
        July 1, 2018

        RandyX, You lots Workers supporters are a bunch of booboos just like your team leader the man has no idea, Now he is asking another bunch of lazy losers to join him to try and beat Dr Skerrit, That will never happen not on this blue planet in a million years!!!!

    • viewsexpressed
      July 2, 2018

      There goes this Man Biting his dogs, the Mad Blind Loyalist Clown again, better known as the Man who Bites…woof. His ratings, ever since he started to write has been very poor. It therefore seems he is making or has no impact on the people who read his BS rubbish idiotic in the circle circle of a very corrupt Labour government regime. Keep biting your Dog, you failed behaviour. Skerrit must Go and everything to write this nonsense, Skerrit is more in the doldrums of corruption and to answer the question of the abuse of states funds, for example, if your mind has haunt you and you deliberately forget to dismiss. It is called the Bins and Fertilizer Bobol. Money was stolen and abused under this corrupt Labour government with its incompetent leaders. Mr Clown, you rating are the same, no one believes in your nonsense…you are in this 11 Negative and 1 (you I guess) positive.
      No one believes you…wake up and smell the dirty labour corrupt Bobol corruption.

  6. Whose fools are Dominicans, mistake?
    June 28, 2018

    Where has all that money gone or was going? Because if Linton did not pinpoint that huge Mistake, $28 million, what would have happened? What about those huge amounts that were not noticed? Were there other huge mistakes made?

    A mistake of $28 million being made and presented in Parliament and none of those advisers, neither the finance experts in the Ministry of Finance, noticed that huge mistake? But only when Linton told the Cabal so, is when they admitted the Mistake?

    Whose fools are Dominicans? The Cabal always trying to fool, bramble, pull a fast one on its citizens. So after that kind of disaster, where every Dominican suffered, one way or the other, that is what is happening ? Farmers, fisher folks, the elderly, those who need help to cover homes or repair homes have been short changed.

    Dominicans are suspicious. $28 million mistake? Impossible. how did that happen? Exchange rate fluctuating so much? Madness.

  7. JBaptiste
    June 28, 2018

    More free money for those who refuse to work,while punishing the working few. Socialism exemplified.
    The challenge to Austrie is to name one place this has worked.
    “fiscal prudence” wow.
    Which sane person would have Austrie manage thier business?

  8. $28 MILLION Mistake?
    June 28, 2018

    Biggest Accounting Mistake in Dominica’s history.

    $28 MILLION Mistake. $28 MILLION discrepancy. For sure, if it wasn’t for the eagle-eyed, patriot Lennox Linton, who saw and informed the parliament of that HUGE MISTAKE, $28 MILLION of the PEOPLE”S money would be under some table hiding. Difference in Exchange rate could never account for $28 MILLION MISTAKE. Another protector of MASSA in defense of the indefensible. The former ODD-itor publicly made a FOOL of himself. but he and his ilk do not care, once they show MASSA they are in his defence for all the wrong reasons. Enslaved all over again.

    $28 MILLION would be siphoned, just like that. THANKS so much Linton. Remember the famous BIN BOBOL? Remember the US $400,000.00 from Susan Olde and where it pass?

    According to WCK, “Somebody hold dem.”

    • viewsexpressed
      July 2, 2018

      Whooooaaaa…Let this statement of Truth repeat itself, for this dumb and in denial Labour supporters. Here goes….
      Here goes….Man Bites Dog…Pay attention. And learn the truth. Not the bobol lies you engage in: Hypocrisy.
      Hon Linton Educated us…..
      “$28 MILLION Mistake. $28 MILLION discrepancy. For sure, if it wasn’t for the eagle-eyed, patriot Lennox Linton, who saw and informed the parliament of that HUGE MISTAKE, $28 MILLION of the PEOPLE”S money would be under some table hiding….”

      Skerrit and his bobol gang lied to us…deception. DLP Political misfits…Liars,,,,,betrayers

  9. Shaka Zulu
    June 28, 2018

    If you practice fiscal prudence why are we year after year begging for loans and grants? The government of Dominica does not have 27 million ec to invest in home repair what about all tbe money given to village council over the years. This government is like a pit with no end. Secondly what revenue source is going to be used to repay this loan? Our national debt is in the billions yet we add more ontop. I have yet to seen a development plan that has worked to bring revenue through increase private sector growth which leads to increase tax rev. We have seen destruction of or industrial and production sector. Major business and factories closed down local businesses struggling takeover by cheap Chinese commerce that benifits only Chinese. These retards think putting Dominica in more debt with no way of paying is fiscal responsibility. I will say again Dominica is an experiment in stupidity. This cannot be real. The caliber of people we have running that place is a joke.

    • Charlie Rose
      June 28, 2018

      Dude…I didn’t finish reading your piece but I don’t think you realize it’s only the 7 mill that’s the loan. If you-all wouldn’t negotiate these funds for recovery after this unprecedented mass damage to houses in Dominica then I don’t see why I was even considering ‘voting’ you all back in. (Maybe you’d now sell Dowasco to raise funds)
      I didn’t get to your ‘Chinese’ part, but again if you-all wouldn’t have alligned with the Chinese, which you must admit was a winning move on their part, while your boys couldn’t negotiate a half-moon stadium from the Tiwanese then why am I even thinking of a change next election?

      • Shaka Zulu
        June 28, 2018

        Typical labourites. Absolutely missing the point and making absolutely no sense. Let Reggie explain why we owed Venezuela US 1 million. He should be telling Dominica what happened ro the money or behind bars.

      • Shaka Zulu
        June 29, 2018

        “US 100 million”

  10. Paul Rossnof
    June 28, 2018

    Over the last 18 years we have heard alot of promises and talk from this regime. Had only half of the promises come to fruition Dominica by now would be the Monaco of the Caribbean. Sadly it was only talk and they keep on talking. Almost a year after Maria and a lot of foreign aid what can we see – again very little. Austrie is boasting how they negotiated a CHEAP loan from the World Bank at 1.25% p.a. in reality this is not a special deal at all with base rates in Europe and the US hovering between 0% and 0.5%. So again this government tries to insult our intelligence. Remains to see what we are going to see in the end from all this money and who will benefit. Remember, how many times have we been promised a new PMH hospital, a new hospital at Marigot, a new airport, coffee factory, abbatoir, new farm roads, new bridges between Roseau and Portsmouth, new road between Portsmouth and Melville Hall… I have not seen any of it, or if I can see it it’s not working and no good to…

    • Anon
      June 28, 2018

      If you can write this kind of gooblegook after reading, then if I’m the govt I’d definitely try to deceive you as too foolish to comprehend.

      • Paul Rossnof
        June 29, 2018

        I know the truth hurts. By the way it’s not ‘gooblegook’ but rather gobbledygook. But I won’t make a big issue of that, we all know that DLP supporters are a bit light on general education and intelligents. We all know you are a paid up member of the cabal and you defend them with all you got. You must be getting a huge buzz out of defending the constant lies of your political leaders. Jokes aside, I pitty you because day in day out you and your friends try to defend the undefendable.

      • viewsexpressed
        July 2, 2018

        Anon, I see you have issues and problems, comprehending the truth as it lays open before you everyday by this corrupt Labour Government. If you want to know how corrupt this regime is just look out for “Man Bites Dogs”, immature comments and denial of the state of poverty this blessed country of us has been placed by this devilish Labour corrupt government with acolytes such as Man Bites Dogs pushing the pen on paper writing Bull every day. I was told that the higher the monkey and dogs climb the more they expose their dirty assests.
        Why is it that you Anon and this ridiculous Man Bite Dog, keep barking and aligning yourselves to this corrupt Skerrit failed government.

  11. marie-claire R Skerrit
    June 28, 2018

    Please provide the eligibility of the loan qualification and who will over see the disbursements of funds and provide approval. Transparency please.

    • RandyX
      June 30, 2018

      You are asking for the impossible. Transparency is not in their vocabulary.

  12. Sylvester Cadette
    June 28, 2018

    DNO, while we commend you for the great work of informing on varied issues, I must call you out for not doing sufficient proof reading before publishing. What you wrote in paragraph three (3) I have pasted below in quotes:
    “The government of Dominica and the IDA have entered into an agreement whereby the government of Dominica will contract a credit facility in the sum of EC$27 million or US$7 million”. YOUR MATH is not correct here.

    You wrote: ““Approximately 1700 eligible homeowners will be provided with a subsidy in the form EC$42,000 grant, that’s US$16,000,” Hon Austrie explained. NOTE YOUR MATH is inaccurate. they are not equal. use the term approximate or other synonym.

    I am not being petty – before your articles were more precise. now the mistakes are TOO FREQUENT.

    When you make the correction ADMIN should footnote this comment less it is thought that we are criticizing for nothing. We just all want to grow and improve together. :) :)

    ADMIN: We appreciate your observations and recommendations, we should always strive to improve and ,to this end, point out errors in good faith. Please note this information was taken directly from the government and a direct quote from the responsible minister.

    • Sylvester Cadette
      June 28, 2018

      I take the point where you are quoting someone. Notwithstanding, the diligence was wanting in recent times so return to the higher standards we know you are capable of. In fact you did demonstrate these standards before.

      On another note, thanks for the great service of keeping us informed on the diverse issues of the day. Most appreciated.

      • Me
        June 28, 2018

        Is a good thing DNO has a disclaimer therefore they dont put words in people mouth…Good

    • SoY Yo
      June 28, 2018

      It’s good you are questioning the math, because it doesn’t add up. Not with the World Bank numbers (http://projects.worldbank.org/P166537/?lang=en&tab=financial) or even the internal numbers, unless we are to believe they intend to manage this and give technical assistance for 0.6 million.

  13. jolo
    June 28, 2018

    for one set alone….

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