The on-going geothermal project in Dominica will receive funding in the form of grant financing, officials have confirmed, after negotiations concluded with a World Bank delegation.
The Co-ordinator of the Dominica Geothermal Energy Project, Ambassador Vince Henderson, announced officials were pleased with the outcome of these negotiations.
A USD10 million grant from the United Kingdom’s Department for International Development administered by the World Bank had already been approved. These negotiations centred around a USD17.2 million loan from the World Bank, as well as further loans and a contingent USD10 million grant from the Clean Technology Fund, said Ambassador Henderson. In total over USD50 million could be available for the development of the geothermal power plant.
The 7MW geothermal plant will also receive support from New Zealand, building on the two countries Partnership Agreement that started in 2014.