The World Bank has announced it will provide a USD 13 million concessional loan to the Commonwealth of Dominica to improve overall air connectivity, the company said.
The loan will upgrade the airport infrastructure to safely accommodate 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.
The World Bank said these financing projects would also support the islands during the post-pandemic recovery stage.