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Dominica seeks $50m loan for geothermal project from World Bank

Dominica seeks $50m loan for geothermal project from World Bank Dominica, Caribbean (source: flickr/ boshamite, creative commons)
Alexander Richter 19 May 2015

The Hon. Prime Minister of Dominica is determined to advance the geothermal project.

In an official press release by Hon. Prime Minister of Dominica, Roosevelt Skerrit said that a lot has been accomplished for the advancement of the geothermal energy project.

The Hon. Prime Minister revealed that a series of consultations was held with officials of Dominica’s electricity company, DOMLEC.

He said, “Dominica is going to be a critical partner in the delivery of energy from geothermal [resources] because [DOMLEC] will be involved in the distribution. This is important even before commencing the construction of the geothermal plant.

“The Geothermal Bill has been approved by the Ministry of Energy and the Attorney-General’s office,” he said.

The Prime Minister explained that Government has delayed the Bill’s presentation to the House since it wishes to review the document based on observations made by some stakeholders.

The review will determine whether these observations fit in with Government’s policies or would change those policies.

“Once we can make that determination, then the coast will be clear to advance the geothermal project.”

He added that Cabinet has decided to contract a US $50m loan from the World Bank to finance the project.

Source: Press Release by The Government of the Commonwealth of Dominca