• Today
    December 16

  • 05:28 AM

World Bank approves funds for Dominica

CMC,

Added 15 April 2018

roosevelt-skerrit

Prime Minister Roosevelt Skerrit. (FILE)

WASHINGTON - The World Bank has approved two emergency support operations totalling US$65 million for restoring agriculture livelihoods, strengthening resilience, and rebuilding houses destroyed by Hurricane Maria in Dominica.

The Washington-based financial institution said this represents its highest ever financing for Dominica and is part of a larger US$115 million package of support that includes financing of US$65 million in concessional terms and US$50 million in grant financing from the International Development Association’s (IDA) Crisis Response Window.

Hurricane Maria killed at least 30 people and caused damages and loses estimated at US$1.37 billion or 226 per cent of gross domestic product (GDP) when it passed through the island on September 18.

The greatest damages were in housing and transport, with more than 4 500 houses destroyed and 20 000 partially damaged, and many roads and bridges affected and covered by trees and flooded debris. The agriculture sector had the largest losses, with 80 to 100 per cent of crops destroyed. Farmers lost half of their cattle and many fishermen lost their boats and fishing gear.

“This financing enables us to make two critical investments in our economic recovery following the devastation of hurricane Maria last year. These investments in agriculture and housing also represent vital components of our plan to make Dominica the first climate resilient nation in the world,” said Dominica Prime Minister Roosevelt Skerrit.

The World Bank said the US$25 million Emergency Agricultural Livelihoods and Climate Resilience project will help farmers and fisherfolks to restore their agriculture and fishing production and systems and adopt climate smart practices.

It said the US$40 million Housing Recovery project will focus on rebuilding houses and improving the application of resilient building practices. The total $65 million project financing for these two projects includes the US$50 million of grant financing.

“Last year was a stark reminder that the Caribbean is a region most exposed to natural disasters,” said Tahseen Sayed, World Bank’s Country Director for the Caribbean.

“Through these projects we have an opportunity to contribute to Dominica’s efforts to build back better and smarter, with structures able to resist high winds, and help some of the most vulnerable including farmers and fisherfolks to cope with the shock and be better prepared for the next storm.

“We are committed to deepen our partnership with Dominica in support of its aspiration for becoming a climate resilient nation,” he added.

About 1 700 families will receive subsidies from the housing project and 4 900 farmers and fisherfolks will receive support from the agriculture project.

Currently, the World Bank Group is supporting Caribbean countries with almost one billion US dollars focused on strengthening resilience and financial protection against disasters – of which nearly half a billion dollars is focused on disaster risk management (US$430 million). In addition, the World Bank Group is engaged in Haiti with more than US$935 million. (CMC)

 

 

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

The public service vehicle community is upset over new uniforms provided by the Transport Authority. Do you think the new uniforms are a good idea?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM