The legislative body of a Dominica has given approval for additional funds for the fiscal year 2023-2024, totaling a significant sum of over $52M.
During a recent parliamentary session, the Minister responsible for Finance, Economic Development, Environmental Resilience, and Social Welfare the Hon. Dr Irving McIntyre presented the proposal.
Speaking on the matter, the Minister highlighted the objectives of a project aimed at reducing vulnerability to natural disasters and climate change impacts in the country, which has been supported by international funding.
Updates were provided on various ongoing infrastructure projects, including road rehabilitation and the construction of water storage facilities in several communities.
Additionally, efforts to enhance forestry nursery facilities and the establishment of a new meteorological office were mentioned.
Furthermore, Parliament authorized a credit facility for the development of geothermal energy, which includes the construction of a new electricity power plant to improve the distribution of energy to consumers.
The Energy Minister, Hon. Dr Vince Henderson emphasized the importance of this investment for ensuring efficient, resilient, and affordable energy supply, as well as fostering overall economic development.
Details regarding the financing terms and repayment schedule were also disclosed, highlighting the favorable conditions secured by the country due to its relationship with international financial institutions.
Dr McIntyre
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