Project Overview
OVERVIEW
The Government of the Commonwealth of Dominica’s (GOCD’s) Third Medium Term Growth and Social Protection Strategy (2012-2014) addresses the major development challenges faced the Dominica:
• The continuing effects of trade liberalization and globalization and the recession resulting from the 2007-08 financial crisis.
• The need to accelerate the rate of growth and contribution made by the agricultural sector.
• The need to accelerate the development of Dominica’s tourism sector, including upgrading of attractions; and upgrade of existing and construction of additional rooms;.
• Creating a more enabling business and investment climate for manufacturing, including agro-processing.
• Increasing the export-readiness of Dominica’s enterprises.
Improving access to business support services to improve competitiveness and export-readiness; and improving access to credit to accelerate local investments are critical prerequisites to the success of the GSPS.
The project establishes a Line of Credit at the Dominica Agricultural and Industrial Development Bank (Dominica AID Bank) to assist in financing at least 7 high-priority GSPS-aligned projects (approximately US$0.571 m per project) in the tourism, agriculture and manufacturing sectors.
