Caribbean news. Despite being in the throes of an economic crisis, Venezuela will be funding major projects in Dominica, officials say.
Ports Minister, Ian Pinard, said a Venezuela-funded project of some US$13.5-million to rehabilitate the two major ports on the island is expected to begin as early as this month. Venezuelan ambassador to Dominica, Hayden Pirela, said earlier this week that his country, in conjunction with a Chinese company, will be funding a project to widen some of the island’s roads.
Ports Minister, Ian Pinard. Photo courtesy www.kairifm.com
Pinard told Kairi’s Heng Program that the rehabilitation of the Woodbridge Bay Port and the Cabrit’s Berth in Portsmouth is a signifcant project. He stated the contract for the project was signed last month. “That project is expected to start this year; in fact this month the project is expected to start.” he noted. “It is going to be a significant project in terms of what we have to do. Most of the funds will be leveled towards Woodbridge Bay in terms of rehabilitating it because we haven’t done anything on it for a long time.”
He said since that port has been built, “there has been some deterioration.” Meanwhile, Pirela said a meeting was held in Dominica with a Chinese company “and they have asked me of different projects they can help in the development of Dominica.”
He mentioned that sections of Newtown, Mahaut and Massacre have very narrow roads. “We want to see if we can do a project to widen these roads,” Pirela said. On Wednesday last week, President of Venezuela, Nicholas Maduro, admitted that the country’s economy is in crisis with a 2.8 percent drop in 2014 and inflation at 64 percent.
He assured Venezuelans that despite a huge drop in the price of oil globally, which the country heavily depends on, “God will provide.” Reports indicate that oil sales account for 96 percent of Venezuela’s foreign income, a figure that has gone up from around 80 percent since former President Hugo Chávez came to power in 1999.
Earlier this month, President of the Dominica Labour Party, Petter Saint Jean, said Venezuela’s economic woes will not have a negative impact on assistance received from the South American country. Article courtesy http://dominicanewsonline.com
Photo courtesy http://dominicanewsonline.com
