The House of Assembly has authorized an additional credit facility from the International Development Association for the funding of the Caribbean Digital Transformation project.
The sum of seventy-seven million four hundred and ninety thousand Eastern Caribbean dollars was approved for the funding of the project for the purpose of enhancing the use of, and increasing access to, digital services and technologies by all sectors of the Dominica’s society.
This project seeks to address key bottlenecks, harness opportunities to develop the digital economy as a driver of growth, job creation and improvement in service delivery, support climate mitigation efforts and strengthen resilience to natural disasters, pandemics and other shocks.
The credit facility will have an interest rate of three quarter of one percent per annum, a commitment charge of half of one percent per annum, with repayment of fifty semi-annual installments commencing December 15, 2030 with a grace period of ten years.
Minister for Public Works and the Digital Economy, Honourable Cassanni Laville says investing in the digital economy will improve the ease of doing business index through the use of modern technologies across all spheres of the public and private sectors.
“Investing in the digital economy will modernize the economy, increase productivity, enhance efficiency and improve the ease of doing business index through the use of modern technologies across all spheres of the public and private sector. Mr. Speaker, by creating a more deeply integrated dynamic digital economy, digitally empowered citizens, businesses and institutions, Dominica will chart a new path” Honourable Laville stated.