{"id":12320,"date":"2010-07-08T06:56:20","date_gmt":"2010-07-08T12:56:20","guid":{"rendered":"http:\/\/dominicanewsonline.com\/?p=12320"},"modified":"2010-07-08T09:20:33","modified_gmt":"2010-07-08T15:20:33","slug":"ec17-million-expected-to-help-combat-global-crisis","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/business\/ec17-million-expected-to-help-combat-global-crisis\/","title":{"rendered":"EC$17 million expected to help combat global crisis"},"content":{"rendered":"<p><a href=\"\/wp-content\/uploads\/2010\/07\/dollar-signs1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-12322\" title=\"dollar-signs1\" src=\"\/wp-content\/uploads\/2010\/07\/dollar-signs1.jpg\" alt=\"\" width=\"219\" height=\"235\" srcset=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2010\/07\/dollar-signs1.jpg 298w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2010\/07\/dollar-signs1-280x300.jpg 280w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2010\/07\/dollar-signs1-105x113.jpg 105w\" sizes=\"auto, (max-width: 219px) 100vw, 219px\" \/><\/a>Dominica is set to receive EC$17 million dollars  (EURO 5.2 million) from the European Commission to cushion the effect of the  global economic crisis.<\/p>\n<p>This is according to a press release from the  European Commission (EC).<\/p>\n<p>The release informed that this financial assistance  comes as part of the commission\u2019s vulnerability assistance scheme, which was  adopted last year to aid African Caribbean and Pacific (ACP) countries battle the  crisis.<\/p>\n<p>A total of 13 ACP countries were opted for $230  million in assistance under the program. Grenada has also received EURO 5.29 million.<\/p>\n<p>\u201cThe funds which are non-reimbursed are to be used  by Dominican authorities at their discretion and convenience,\u201d the release  stated.<\/p>\n<p>\u201cThe vulnerability instrument is based on the  forecast of fiscal losses and other vulnerability criteria thereby helping to ease  the impact rather that acting after the damage is done, whilst assisting the  worst affected countries to reduce the social costs of the crisis. It provides rapid  targeted grants and is meant to complement to the loan-based assistance of other  development institutions, with whose support it was developed,\u201d the release  informed.<\/p>\n<p>According to the release, this financial assistance  is proof that the EC is delivering on its promises and is supporting its partners  in critical times of need.<\/p>\n<p>The Dominica vulnerability disbursement is in  addition to ongoing EC interventions in the country that include a Business Gateway Project, the Waitukubuli National Trail Programme, The Carib Territory  Water System project among others, the release said.<\/p>\n<p>\u201cThere are also two EU funded financial sector  budget support projects ongoing which are the Private Sector Growth and  Development Programme (EURO 11.8 million) AND THE Rural Sector Development Programme  (EURO 6.32 million,\u201d the release also stated.<\/p>\n<p>Yesterday, the Banana Industry Trust commissioned  three inland reception distribution centers in Fond Cole, Portsmouth and  Marigot. These centers which cost a total EC $8.2 million were funded by the EC.<\/p>\n","protected":false},"excerpt":{"rendered":"Dominica is set to receive EC$17 million dollars (EURO 5.2 million) from the European Commission to cushion the effect of the global economic crisis. This is according to a press release from the European Commission (EC). The release informed that&#8230;","protected":false},"author":15,"featured_media":12322,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[18,36],"tags":[],"class_list":["post-12320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EC$17 million expected to help combat global crisis - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/business\/ec17-million-expected-to-help-combat-global-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EC$17 million expected to help combat global crisis - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Dominica is set to receive EC$17 million dollars (EURO 5.2 million) from the European Commission to cushion the effect of the global economic crisis. 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