Hurricane Maria’s Adverse Effects in Dominica Are Being Fought Off With Citizenship by Investment Funds
Hurricane Maria left the little island nation of Dominica scarred in 2017 and those scars are still tried to be cured to this day. The successful Citizenship by Investment program that is implemented in the country is taking care of this little issue by bringing in a lot of foreign investment to the country in recovery.
Dominican Citizenship by Investment Program Praised for Its Success
In a recent study done by PricewaterhouseCoopers (PwC), one of the best in its line of work, the Dominican Citizenship by Investment Program was praised for two good reasons. The funds that are gotten from the investors were put to good use recently to better the living conditions on the island. Perhaps more importantly, some of it was spent of battling the after-effects of the Hurricane Maria that left the country in ruins, just as many other that shared the same fate in the region. However, Dominica denied sharing this fate and is committed to restore itself by using the money from Dominican Citizenship by Investment Program in a smart way.
Infrastructure is Repaired Back at a Rapid Speed
Many assumed that it would take decades for the small island nation to recover from the devastation Hurricane Irma caused but it seems like this will not be the case thanks to the Dominican Citizenship by Investment Program funds that are flooding into the country. So far 582.6 million East Caribbean Dollars from these funds were used on rebuilding the lost infrastructure of the country. 15 roads and 19 bridges were repaired while three new hospitals and six health centers were built. Furthermore 15 damaged schools were repaired with these funds over the last two years.
Lost Housings are Also Being Rebuilt for the Community
Infrastructure was not the only thing that suffered from Hurricane Irma. People have lost their homes but now the Dominican government is doing its best to give them back their livelihood by using funds from the CIP program. So far 6680 hurricane resistant houses were built, and many are on the process. Government also invested some of this newly found funds into tourism sector so that more jobs could be created and that more tourists could be persuaded to come and perhaps even invest in Dominica.