Government of the Commonwealth of Dominica Website
Friday, 22 February 2019

vlcsnap-2019-02-08-10h53m27s252.png

National Development Foundation of Dominica is continuing to pledge its support to the development of Dominica through fostering economic growth.

THE mission of the NDFD was highlighted by the executive director of the foundation, Cletus Joseph, as he addressed the 35th Annual General Meeting last Wednesday.

THE mandate of the NDFD, as encapsulated in its mission statement is that of poverty reduction and Human Resource Development in Dominica, by Mobilizing funds for the provisions of credit, training and technical support, primarily to the Micro, Small and Medium Size Enterprises.

Joseph, in his address said in the last fiscal year the foundation

Joseph says all programs on 2017 were geared towards satisfying the mission of the foundation.

A mission, he says in which NDFD is firmly grounded.

“NDFD continues in its thrust toward national economic development with specific focus on the Micro, Small, & Medium Enterprise sector and other micro finance clients as well as the inclusion of low-income households in financial services.  This is in keeping with NDFD’s mission which is to contribute to poverty reduction and human resource and development at the national level by mobilizing funds for the provision of credit, business advisory services and training primarily to the micro and small business sectors.”

The passage of hurricane Maria 2017 caused significant loss resulting in clients being unable to honor their debt obligations.

To ease these clients, the NDFD effected a series of strategies.

“All of the programs and activities in 2017 were geared towards satisfying this mission providing a complete package of business planning, financing and continuous support. Although the task ahead is not an easy one NDFD remains resolute in its efforts to develop the sector which it has served for the last 36 years... to our clients, partners, benefactors we continue to stand ready lead the charge of developing our sector, our economy, our country.”

Chairman of The Board, Nicols Bruno, says that in the continued effort to develop the micro business sector the NDFD plans to continue and initiate new approaches.

"NDFD implemented a few measures to accommodate these clients and to allow them to be in a better financial situation, that is, those who were affected by the storm.  some of the measures include granting of moratoriums, refinancing, rescheduling of existing loans and the provision of more technical assistance. this approach helps to maintain and strengthen the relationship with its clients by determining the extent of damages and losses caused and experienced and ways the foundation could help in restoration of the businesses and personal lives."

The National Development Foundation of Dominica is a private, non-profit development institution established in 1981 as a limited company by guarantee under the laws of the commonwealth of Dominica.

Find Us On Facebook