Dominica Builds Climate and Economic Resilience Using Citizenship by Investment Funds
LONDON, June 23, 2020 /PRNewswire/ -- The Commonwealth of Dominica is fulfilling its ambition to become "the world's first climate-resilient nation," Prime Minister Roosevelt Skerrit made this pledge after 2017's Hurricane Maria, with Citizenship by Investment (CBI) as its primary source of funding. During an online event on June 21(st), PM Skerrit announced that 254 families on the south-east Atlantic coast received the keys to their new homes. He also spoke with the owner of Carriere Systems, a local ICT innovator, and announced plans for more youth entrepreneurship support.
Funded exclusively by CBI, the 254 new homes are part of the Housing Revolution, which aims to build around 5,000 hurricane-proof homes across the island. Besides safer accommodation, climate resilience policies create an economic safety net for Dominica, particularly for agriculture, entrepreneurship, and its thriving ecotourism sector.
"We continue to focus on the business of improving the lives of Dominican people," PM Skerrit noted during the online broadcast. "On Wednesday, we handed over 64 keys to residents of Grand Fond. On Thursday, 122 residents of La Plaine and Delices received keys to brand-new homes. And on Friday, 67 residents of San Sauveur, Good Hope, [and] Petite Soufriere became proud new homeowners and I am very happy for all of them," said the PM. "Our aim is to revolutionise housing in Dominica [...] We remain focused on providing our people with decent homes in which to raise their families and live in comfort," PM Skerrit concluded.
The Prime Minister also spoke with an inspiring young Dominican entrepreneur, Shane Carriere, owner of Carriere Systems, specialised in ICT solutions, surveillance systems and renewable energy innovation. The company developed a solar-powered irrigation system to assist small farmers, with affordable non-automated versions. The young entrepreneur advised those wishing to start their own businesses to discover the funding avenues already available in Dominica. "This government has demonstrated considerable commitment to small business development over the years," PM Skerrit said. Inspired by young entrepreneurs like Mr Carriere, the Prime Minister announced plans for an upcoming piece of legislation that would further support youth start-ups.
Dominica attracts reputable foreign investors who become citizens by contributing to its economy via the CBI Programme. Relying on transparency, integrity and value, Dominica remains the best country for citizenship by investment, according to the CBI Index, published by the Financial Times' PWM magazine.
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