Source Pravda.Ru

Officials from Dominica and USAID agree to $2 million economic development project

Officials from Dominica and the United States on Friday agreed to a four year multi-million dollar aid program to improve the island's economic growth and competitiveness in international trade.

The US$2 million a year progam will be administered by USAID and should help Dominica move toward a creating a more competitive economy, said Karen Turner, mission director for USAID.

She said the program should "help the private sector and government identify and eliminate barriers to competitiveness."

The program will help the private and public sector to identify the actions needed to enhance government efficiency, which should translate into prosperity for the people of Dominica, she said.

Prime Minister Roosevelt Skerrit said he was pleased with the program. Later he said he hoped Washington was also prepared to make low interest loans available for the private sector, AP reported.