SOURCE: Caribbeannewsnow.com, News Editor, Nov, 26
The Parliament of Dominica has approved a $41 million loan from the Kingdom of Saudi Arabia, marking Saudi Arabia’s substantial contribution towards funding the eagerly awaited Roseau Enhancement Project.
This is following the endorsement of Roseau Central’s Parliamentary Representative, Melissa Skerrit, who expressed unwavering support for the $41 million loan proposed by Finance Minister Irving McIntyre in the House of Assembly on November 10.
Also serving as Dominica’s Housing Minister, Skerrit articulated her vision to modernize Roseau into a bustling urban center and commercial nucleus, according to the report by WIC News.
She emphasized that the $41 million from the Saudi Fund for Development arrives with favorable conditions, including a 2.5% interest rate, an eight-year grace period, and a repayment span of 28 years.
“I fully support the approval of the US 41-million-dollar loan from the Saudi Fund for Development, and I am particularly excited about this long-awaited project,” Skerrit said. “This project has been in the pipeline for many years, but over the past few years, I was determined to get this off the ground so we can finally modernize our city of Roseau.”
Skerrit also highlighted that the Roseau Enhancement project would elevate the city’s allure, attract increased private investments, and enrich tourism offerings. Utilizing these funds, a versatile entertainment center will be built, serving as a focal point for culture and recreation within Roseau.
In reference to the international airport, Skerrit underscored the imperative to maintain a certain standard in Roseau while progressing with the airport construction.
“Our city must be a must-visit destination for travellers, showcasing the best of what the country has to offer – a harmonious blend of historic preservation, business opportunity, and a thriving healthy living environment,” Skerrit said.
The international airport is expected to be fully operational by 2026, with MMC Development Ltd. overseeing its construction.
Skerrit outlined the objective of infusing renewed vitality into the city by enhancing its aesthetics, fostering economic growth, and providing citizens with a city they can take pride in.
Moreover, she detailed that the project would facilitate the construction of new covered drains, enhanced sidewalks with seating, upgraded lighting, expanded roads for increased parking, among other improvements.
