ROSEAU, Dominica, CMC -Dominica has signed an EC$1.5 million (One EC dollar=US$0.37 cents) agreement with the Barbados-based Caribbean Community (CARICOM) Development Fund (CDF) for a project aimed at upgrading the Champagne Beach Facility in the southern village of Pointe Michel.
“This will not only enhance the visitor experience but will generate employment opportunities, from the construction phase to the operational phase,” said Finance Minister Dr. Irving McIntyre at the signing ceremony with CDF chief executive officer Rodinald Soomer.
Champagne Beach is a popular location for diving and snorkeling, and the project aims to enhance the facilities and amenities there to improve the visitor experience and create opportunities for entrepreneurship.
“It will open doors for our local entrepreneurs. Spaces dedicated to art, crafts, and culinary delights will allow our talented Dominicans to showcase their skills and contribute to our vibrant tourism ecosystem. In short, there will be significant benefits for neighboring communities and tourism stakeholders, island-wide,” said McIntyre.
Soomer said that the project is part of a broader initiative to respond positively to Dominica’s main development priorities “both nationally and within the context of its fit within the regional development space.
“What the government has requested is to allocate a portion of their grant from the CDF towards this priority project and to reserve the balance of the grant towards geothermal energy to complement a concessional loan that the CDF has provisionally allocated to the government in the amount of US $10 million.
“So while this is a small start to the program, it is a significant start, and we expect that it will culminate in a signing of an agreement with the government to make those resources available for the construction of the ten-megawatt geothermal plant in short order,” he added.
The CDF, an institution of CARICOM, is mandated to provide financial or technical assistance to the 15-member grouping.
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