Roseau, Dominica: Prime Minister Dr Roosevelt Skerrit shared an update on the three major items that will be presented in the parliament of the Commonwealth of Dominica. On Thursday, May 26, 2022, PM Skerrit updated the parliament through his address on the radio channel.
Prime Minister Skerrit noted that he would be presenting two resolutions and another act seeking parliamentary approval as soon as possible. The two resolutions are seeking parliamentary approval to borrow from World Bank, and there is also a virtual asset business bill.
While explaining the act, PM Roosevelt Skerrit stated that the act is to provide for the registration and supervision of virtual asset business from Dominica and with persons in the country and on the related matters.
About the first resolution:
About the first resolution, Prime Minister Roosevelt Skerrit explained that it is for the credit facilities from the international development association. The World Bank for funding Dominica’s COVID-19 pandemic responses and recovery, and the government is seeking parliamentary approval for some $81 million from the World Bank to help with their recovery efforts.
He said, “The COVID-19 has created serious dislocation financially and economically forces as a country, and we have been able to mobilize funding to safeguard lives of citizens to ensure to have all testing kits and all the vaccines and the PPEs to properly course the medicine to provide for those who infected COVID-19 to focus on saving lives to protecting livelihood and preserving jobs to maintain a dignity of human beings.”
About the second resolution:
Prime Minister further asserted that strengthening precise fiscal policy, financial management, and debt transparency for an interest rate is three-quarter of 1 percent and its highly concessional lone and the government has a great rid of 10 years.
He emphasized, “So we won’t start repaying this loan for years, and World Bank assisted us, and they help us for small business recovery, we got money for income support that people who lost their jobs.
The second facility is speaking the authentication of accredited from the internal Development association for the financing of a disaster, risk management, development policy, and wish to take borrow from World Bank.
He further underlined that some 54 million dollars that’s US 20million dollars, but those funds would come to the government immediately as compared to 81 million dollars.
Anglina Byron, developed a deep-seated passion for journalism. Anglina is recognized for her tenacity, strength, and unwavering commitment to delivering honest and reliable news across the Caribbean. She covers general affairs of the region.