The IFC and Dominica have signed an MOU for technical support and capacity improvements for the continued development of geothermal resources in Dominica.
Reported from the Caribbean this week, “the government of Dominica and the International Financial Corporation (IFC) have signed a memorandum of understanding (MOU) for technical support and capacity improvements for the continued development of geothermal resources in Dominica.
The IFC, a subsidiary of the World Bank, has been working with the authorities here from the inception of the island’s geothermal project.
Under the just signed MOU, Dominica is expected to receive US$250,000 in the first instance. Energy Minister Rayburn Blackmoore has described the partnership with the IFC as critical to the development of the geothermal project, one that will help fashion “a road map to ultimately take this project to where it is ought to be.”
“If geothermal is to make sense to us in Dominica we must go beyond drilling of the test wells, and even beyond the actual establishment or installation of a small plant for our own local use,” the minister said.
He wants Dominica to “look at the commercial aspects as to where the country itself could derive economical benefit and we can add a new contributor to our gross national product”.
Source: Dominica News Online