Prime Minister Hon. Roosevelt Skerrit has expressed gratitude to the People’s Republic of China (PRC) for making the necessary financing available towards the construction of major capital projects on the island.
The Prime Minister indicated that Dominica is benefitting from a number of projects being financed by the Government of China through gratuitous aid and concessionary financing.
“The loan arrangement is about 40 million U.S dollars at concessionary rates. I believe we have a five year grace period before we start making repayments to the Chinese Government.”
Recently the Government of the Peoples Republic of China made available loans funds to Dominica at special concessionary rates to construct the new State College and the new State House building.
“At a time when the entire world is going through its own challenges, though it is a loan it is highly concessionary and we are indeed grateful to them for that. I really want to thank the Chinese Government for their understanding and continued collaboration and cooperation. Even if we had the idea, with an idea you need the resources to implement it and had it not been for their intervention we would not have been able to undertake these projects for the people of Dominica.”
The construction of thirty new homes for the indigenous community in Dominica, ten of which have already been completed is also being financed with funds from the PRC.
Other projects to be financed with loan funds from China include the state-of- the-art new Princess Margaret Hospital and the new Newtown Primary School.
“We are unfolding the designs of the new hospital and in my discussions with the Chinese Ambassador he has certainly assured us that it will be a facility that will continue to demonstrate the serious nature of the relationship between Dominica and China.”
The New Princess Margaret Hospital and the new Newtown Primary School are due to commence this year.