Roseau, Dominica – Thursday, January 2, 2014 – The Government of Dominica has received the second fixed tranche of funds under an 8.46 million euro financing agreement between Dominica and the European Union. On Tuesday, December 31, 2013, Dominica received 2.4 million euro towards direct budgetary financing under the 10th European Development Fund (EDF) Multi-Sector General Budget Support Programme.
As reported on Tuesday, November 19, 2013, the first fixed tranche of 3.2 million euros was disbursed in 2013 after the fulfilment of general conditions of satisfactory progress of the Growth and Social Protection Strategy, GSPS. The GSPS is the main tool to foster economic development and poverty reduction in Dominica. The 10th EDF multi-sector support programme is to support the implementation of the GSPS. The specific objectives aim at supporting government to attain growth in the economy, which will generate jobs, reduce poverty and improve the quality of life of all Dominicans.
The second tranche of funds will go towards; enhancing community tourism; reduction in perinatal mortality rates; training for geothermal energy production and management; and reduction in the frequency of water outages thus reducing customer complaints.
The financing agreement under the 10th EDF Multi-Sector General Budget Support Programme was finalized and signed on August 29, 2012. The programme specifically supports areas of economic development and the implementation of key sectoral strategies in tourism, renewable energy, poverty reduction and social development.