The World Bank has approved 25 million US dollars for Dominica in an effort to further stimulate economic activity.
Dominica’s economy, like many other countries, was severely impacted as many sectors came to a standstill due to the ongoing covid-10 pandemic.
Prime Minister of Dominica, Hon. Roosevelt Skerrit explained that this funding will be used to bridge the financial gap created by the pandemic.
“The World Bank approved a concessional loan of US 25 million dollars or 67 million EC dollars for Dominica as budget support. As you know Dominica like every other country in the world has experienced financing challenges caused by Covid-19. Therefore it was necessary for us to mobilize additional funding to assist us in closing the financing gap,” PM Skerrit explained.
The Prime Minister went on to thank the World Bank for the assistance, saying “We are eternally grateful to the World Bank,” adding that it “has proven itself to be a true partner in our development.”