Dominica receives $13 million loan from World Bank for better air connectivity
The loan will be used to improve the overall regional air connectivity and upgrade the airport infrastructure within Dominica.
The World Bank has announced that it will provide the Commonwealth of Dominica with a concessional loan worth $13 million that will be used to improve the overall regional air connectivity and upgrade the airport infrastructure to safely accommodate for diverted flights and other emergencies.
The island has been planning on building its first international airport, putting millions aside every month for this from its reputable Citizenship by Investment (CBI) Programme.
Dominica is one of the four countries benefiting from the World Bank‘s first financing of Caribbean airport projects, along with Grenada, St Lucia and Haiti. Sourced from the International Development Association, the support for Dominica has generous terms, such as a 40-year maturity date and a 10-year grace period.
A World Bank press release cited: “In Dominica, the project aims to improve safety and airport resilience readiness to natural disasters, and to strengthen the capacity of agencies handling air transportation operations and airport investment planning. 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.”
Tahseen Sayed, the World Bank’s Country Director for the Caribbean, outlines that these financing projects would also support the islands during the post-pandemic recovery stage. Moreover, Sayed believes that this enhances “the overall resilience of key connection points in the Eastern Caribbean“. The institution further explains that the projects “will enable countries to better accommodate diverted flights, emergency landings and post-disaster relief flights, and improve regional capacity and collaboration in the sector”.