IMF visits Dominica, had a “productive meeting” with PM Skerrit

The International Monetary Fund (IMF) held a “productive meeting” with Dominica Prime Minister Roosevelt Skerrit.

“Deputy Managing Director Bo Li visited Dominica to discuss the existential threat of climate change and its impact on the island, how the IMF can support the country with its Disaster Resilience strategy, and how to mobilize climate financing from various global players,” according to an IMF statement.

During the meeting with the Prime Minister, IMF discussed Dominica’s susceptibility to natural disasters, how it has rebuilt since Hurricane Maria, strategies for sustainable development, and how the IMF can support the country’s mobilized climate finance.

Deputy Managing Director Bo Li stated that his visit to the island had two objectives — First is to continue to build on the visit of IMF Managing Director Kristalina Georgieva earlier this year to continue to strengthen the agency’s collaboration with the Caribbean, particularly Dominica and second, is to hear from Prime Minister Skerrit and his cabinet on the challenges of climate change in Dominica.

“As we know, Dominica is susceptible to natural disasters, and there have been several during the last ten years. We are here to hear the challenges to this country in dealing with natural disasters, climate change and climate financing, how to finance the building of resilience, and how the IMF can help,” said Li.

Li, on Tuesday, visited the geothermal plant and housing projects. He also met with local stakeholders, including academia, the private sector, and youth and women representatives.

Dominica’s road to resiliency

After Tropical Storm Erika and Hurricane Maria almost wiped out the entire nation, Dominica pledged to become the world’s first climate-resilient nation.

The government embarked on building 5,000 climate-resilient homes for the most vulnerable families, utilizing revenues from the country’s Citizenship by Investment Programme. Apart from building homes, Dominica was also pushed to formulate new policies in urban planning and infrastructure building.

MMC Development Ltd. is the government’s primary partner in developing climate-resilient infrastructures on the island — from homes to healthcare facilities, educational institutions, social buildings and transportation.

MMC Development Ltd. CEO and President Anthony Haiden said in a previous interview that resiliency and sustainability are their utmost priority for all the projects they embarked on.

“Despite the economic, political, and logistical challenges, MMC Development has delivered resilient and sustainable projects, and we are always committed to complying with the government’s mandate to develop green structures,” Haiden said.

Haiden also ensured that with the help of various stakeholders, the most sophisticated methods and best practices would be utilized for the biggest project they will develop, which is the Dominica International Airport.

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