DOMINICA-POLITICS-Dominica welcomes St. Lucia into ALBA

ROSEAU, Dominica, CMC – Prime Minister Roosevelt Skerrit says many international financial institutions take a long time to disburse funds to developing countries as he applauded the work of the Bolivarian Alliance for the Peoples of Our America (ALBA) bank.

Skerrit, commenting on the decision of St. Lucia to join the Venezuela-led ALBA, the creation of the bank has resulted in funds being made available to member states at a very low concessionary rate.

“The speed at which the ...process is completed is also very instructive, because many of the international financial institutions take so long before you can get the resources out after having signed the loan agreement that two or three, five years can pass by before you can see the results.”