Over US $12 million loan signed to complete Melville Hall road project

first_imgPrime Minister Poosevelt Skerrit and French Ambassador to the OECS, Michel Prom signing loan agreement The governments of Dominica and France on Friday, June 22nd, 2012, signed a loan agreement of US $12.618 million to assist with the completion of the Melville Hall road rehabilitation project.This loan makes provisions for the completion of additional works on the much talked about Melville Hall to Pond Case road rehabilitation project which suffered from a delay due to the payment of truckers employed on that project.There has been a dispute between the truckers and the contractors, Emile Ghardakhan, as they claim that they had not been paid for over two months. The Melville Hall Road project has been identified by government as one of the most important projects implemented in Dominica and is part of efforts to improve access from the Melville Hall Airport into the city of Roseau.At Friday’s signing ceremony Prime Minister and Minister of Finance Roosevelt Skerrit who alluded to the fact that there has been “much discussion” on the project, noted his hope that the new loan agreement would assist in demonstrating his government’s commitment to its completion.“We hope that this ceremony today responds to some of these concerns specifically, that it signals that this government is fully committed to complete and deliver on this project. Just as we have delivered on lot 1; Canefield to Pond Case, the Grand Bay to Loubiere Road, the West Coast Road and so many others we will deliver on this project”.Prime Minister Poosevelt Skerrit and French Ambassador to the OECS, Michel Prom exchanging loan agreement The road works from Melville Hall to Canfield was initially conceived as one project, however due to the additional works required and the increased cost of construction, the project was divided into 2 lots; lot 1, the Pond Case to Canefield portion and lot 2, Pond Case to Melville Hall which was further divided.Skerrit further explained that this phase of the project is expected to include the “construction and replacement” of existing bridges on the Pond Case Road to Melville Hall road and a solution may be proposed for addressing the land slippage at Antrim.He said there are also “aspects” of the works done as part of the ongoing phase which were not “anticipated” and these will be funded with the recourses from this loan.French Ambassador to the OECS, Michel Prom noted the importance of the project to Dominica as well as its pertinence in terms of regional cooperation.He also stated his anticipation that the completion works will be achieved within its time frame.The interest rate of the loan in the first instance will range from 6.35% per annum with a 5 year grace period.Dominica Vibes News 33 Views   no discussions Sharing is caring! Tweet Sharecenter_img Share LocalNews Over US $12 million loan signed to complete Melville Hall road project by: – June 22, 2012 Sharelast_img

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