Dominica First to Receive Loan to Improve Air Connectivity in the Caribbean

Dominica First to Receive Loan to Improve Air Connectivity in the Caribbean

On May 28th, 2020, the World Bank announced a concessional loan worth US $ 13 million to be conceded on June, 01, 2020for the Commonwealth of Dominica to improve the overall air connectivity in the Caribbean region and upgrade the airport infrastructure. The loan is aimed to facilitate safe accommodation of diverted flights, post disaster relief, post pandemic operations and other emergencies. The island nation has been putting millions aside from its revenue generated by its Citizenship by Investment Program to build its first international airport. 

Apart from Dominica which is the first beneficiary of the Caribbean airport projects, the World Bank is also to finance GrenadaSt Lucia and Haiti. This concessional loan has a 40 years maturity and a 10 years grace period. 

Improvised air connectivity and transportation will considerably increase the country's economy and other developmental aspects. The press release issued by the World Bank also specified that "Navigation and safety equipment will be improved, enabling emergency landing in case of natural disasters and increasing capacity in air traffic control, wildlife management, airport management and planning,". The Country Director of the Caribbean, Mr Tahseen Sayed, of the World Bank has notified that the project enhances "the overall resilience of key connection points in the Eastern Caribbean." 

Financial Times PMW magazine has called Dominica’s as the world’s best CBI program in its annual list of countries thrice consecutively. Dominica, also known as the nature’s paradise in the Caribbean region is emerging as an ecotourism destination taking into account climate resilience, nature immersion, and sustainability as priority rather than the quantity of visitors. Prime Minister Roosevelt Skerrit's vision is to make Dominica ‘world’s first climate resilient nation’. For that objective, the country is diligently upgrading and modernizing the infrastructure and other facilities including healthcare and hurricane resilient homes, eco-conscious hotels, geothermal plants etc, with the help of its burgeoning tourism and successful CBI program which has increased the country’s GDP considerably.

Nature lovers with global entrepreneurial aspirations are at the focal point of tourism as well as Dominica Citizenship by Investment Program to visit as tourists, live, work and study as economic citizens. Reputed foreign investors with high net worth are encouraged to join the program and take part in the sustainable growth of the country and its infrastructure.

June 28, 2020
Dominica Extends List of Family Members as Dependents

In a bid to make Citizenship by Investment Program more attractive, the Government of the Commonwealth of Dominica has simplified the addition of other family members, who can be included as dependants with the main applicant, on 24th June, 2020. The new changes will allow adult children, parents, grandparents, and siblings to be added along with the […]

June 28, 2020
After Dominica, Grenada opens a Consulate in Dubai

With an aim to bolster the ties between UAE and Grenada and citizenship by investment program, Grenada has opened its first consulate in Dubai. This step is expected to develop cultural, economic and scientific ties between the two countries and the Middle East region at large. The Grenadian Consul General to the UAE, Rose Ann […]

June 17, 2020
Canada to Modernize and Upgrade Immigration System

Canada is expecting a huge turn out once the restrictions on international travel are relaxed. This information is revealed on a document released by the federal government website. The document invites vendors who can help modernize the present Immigration, Refugee and Citizenship Canada (IRCC). The government expects the vendors to improvise and modernize the process […]

June 3, 2020
Dominica First to Receive Loan to Improve Air Connectivity in the Caribbean

On May 28th, 2020, the World Bank announced a concessional loan worth US $ 13 million to be conceded on June, 01, 2020for the Commonwealth of Dominica to improve the overall air connectivity in the Caribbean region and upgrade the airport infrastructure. The loan is aimed to facilitate safe accommodation of diverted flights, post disaster relief, post pandemic […]

ABOUT

DUBAI OFFICE

Copyright 2020 CTrustGlobal Ltd. | All Rights Reserved | Working under the umbrella of Trust Group

phonefaxpaper-plane linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram