AID Bank Soft Loan Facility conditions revised to include properties that housed Ross Medical students

​The conditions of the AID Bank Facility set up by the Government of Dominica, have been revised to include property owners that housed Ross Medical students, in addition to farmers, manufacturers, and those engaged in the tourism sector.
 
According to Prime Minister Roosevelt Skerrit, the loans will now be more easily accessible to those involved in these sectors, and will help the private sector to grow after the ravages of Hurricane Maria.
 
Government says the Cabinet consulted with the relevant associations, and reviewed the terms and conditions of funds totaling $35 million available at the AID Bank.
 
Prime Minister Skerrit said, “Based on proposals from the various stakeholders, and advice from the ministries of tourism, agriculture, and commerce, the Cabinet took a decision yesterday to review these loans. One of the decisions is to review the interest rate from an all-time low of 3% to a further low of 2%”.
 
He explained that the facility will be extended to tourism property owners who housed Ross Medical students, to “help repair their apartments, and to buy new mattresses and appliances, for those who had flooding.”
 
He said cabinet will sign the amendments on Friday this week, and the new facility will be available on 11th December 2017.