Government of the Commonwealth of Dominica Website
Thursday, 21 September 2017

Prime Minister Hon. Roosevelt Skerrit says Government is committed to making capital investment much cheaper through new packages now being offered by the Dominica Agricultural Industrial & Development Bank - AID Bank.

The Prime Minister told a recent forum organized for returning nationals that his Government has been able to negotiate new packages at the AID bank to attract investors wanting to do business on the island.

“We had to go out there to negotiate new packages under better terms and conditions. We moved the AID Bank from borrowing from people at eight and nine percent to now the AID Bank is borrowing from global institutions at three and four percent. The bank therefore is able to have a spread of two or three percent which is as a result of a direct concerted intervention by the Government of Dominica.” the Prime Minister said.

In light of this the Prime Minister has advised overseas based nationals wishing to invest in Dominica to consider securing loans from the AID Bank.

“Through the AID Bank we have created tremendous opportunities for the private sector and the private sector can apply to the AID Bank if you have a sustainable investment. There are many of your compatriots who have returned to Dominica who have contracted loans from the AID Bank. We have been able to drop the interest rates from what used to be about 11 and 12% to an average of 6.5% for the private sector, making capital investment much cheaper.”

The Prime Minister also disclosed that housing loans have been made available to Dominicans through the AID Bank and Government’s Housing Loans Board at 5% and 4% interest rates.

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