The International Monetary Fund (IMF) has held what is described as a “productive meeting” with the Prime Minister of Dominica, Roosevelt Skerrit.
In a statement, the IMF said its Deputy Managing Director Bo Li is visiting Dominica this week to discuss “the existential threat of climate change and its impact on the island, how the IMF can support the country with its Disaster Resilience strategy, and how to mobilize climate financing from various global players.”
The Washington DC-based organization reported that, during its meeting with Skerrit, Dominica’s vulnerability to natural disasters, how it has rebuilt since Hurricane Maria, policies for sustainable development, and how the IMF can support the country’s mobilize climate finance, were discussed.
LI stated that his visit to the island has two objectives.
“The first is to continue to build on the visit of the IMF Managing Director earlier this year to this region to continue to strengthen our collaboration with the Caribbean and also, particularly Dominica,” he said.
He pointed out that the second objective is to hear from Skerrit and his cabinet on the challenges of climate change in Dominica.
“As we know Dominica is susceptible to natural disasters and there have been several of them during the last ten years,” Li remarked. “We are here to hear the challenges to this country in dealing with natural disasters, in dealing with climate change and also the challenges of climate financing, how to finance the building of resilience, and also how the IMF can help.”
He added, “We had a very productive meeting.”
While on the island, Li and his team visited several areas including the Kalinago Territory, where he witnessed the damage caused to the road during recent heavy rains, a housing development project, and the geothermal plant now under construction in Laudat.
“These two projects showcase the country’s efforts to make Dominica resilient to the impact of climate change,” the IMF statement said.
Meanwhile, Skerrit said the IMF has been helpful in making Dominica the first climate-resilient country.
“The IMF is very familiar with the financing needs of our country, to fill the gaps to achieving our objective by 2030 of becoming the world’s first climate resilient country,” he said.