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June 16, 2020

Dominica uses CBI funds for education

One of five Caribbean countries to offer a Citizenship by Investment program, Dominica has revealed that in the last few years it has spent millions of dollars on education, funded entirely from its Citizenship by Investment (CBI) program.

The second longest-standing CBI program in the industry (after Saint Kitts and Nevis) and widely considered to be one of the world’s most efficient, transparent and affordable ones, Dominica’s CBI program allows applicants to secure citizenship to Dominica via a non-refundable donation to the Economic Diversification Fund (EDF) of $100,000 for a single applicant or $200,000 for a family of four.

These funds are then used by the Dominican Government to invest in the public sector, including in education, youth prospects and skill sets.

Prime Minister Roosevelt Skerrit recently told Khaleej Times: “We have decided to use the CBI funds in a sustainable way. We use it mainly for public sector investment programs, the building of schools, hospitals, health centres, roads, bridges, the education of our human resources, our children, our youth.”

Over the last few years, Dominica has used $26 million of EDF funds in the sponsorship of its youth studying abroad, on supplying 169 extra-curricular tutors to students in need; and in the reconstruction of 15 schools that were damaged during Hurricane Maria in 2017.

Find out more here https://cbiu.gov.dm