The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

DOMINCA

3.5.3 | FINANCIAL INSTITUTIONS

The financial institutions in Dominica show varying interests in the RE sector and are not very engaged with the other stakeholders. Commercial banks tend to treat RE requests like any other request showing no preferential treatment. Consequently, they currently play no significant role. In contrast, the National Bank of Dominica and the Agriculture Investment Development Bank (AIDB) offer lower interest loans to the RE industry and is very supportive of applicants. The FI stakeholder relationships are extrapolated from the other stakeholders which interact with them.

3.5.4 | PRIVATE SECTOR INSTITUTIONS

The Dominica private sector institutions seek to support the development and increased competitiveness of MSME; especially those in the productive sectors like tourism, manufacturing and agriculture. It also provides training and plays a strong advocacy role on behalf of their clients. Their membership includes an average of 1 REC. PSI have very few human resources, with on average 2 persons. They are therefore not equipped to adequately execute their mandate on behalf of their members and certainly not as it relates to the RE industry which is young and requires significant public sector support to create a viable RE industry in Dominica. The PSIs would like to see more incentives such as personal and business tax breaks for the sector which would encourage more economic activity. They are aware of the limited RE initiatives like import duty and tax waivers provided by Government and have limited requests to strive for more support. Their relationship with the other key stakeholders is depicted in the diagram below.

PSIs have focused on delivering their past mandates with limited resources. There have been limited opportunities in the economy and no requests from their membership/clients, to signal any shift in the government’s priorities.

LEAD GOVERNMENT MINISTRIES

UTILITIES REGULATOR

REGIONAL INSTITUTIONS

PRIVATE SECTOR INSTITUTIONS

FUNDING AGENCIES

FINANCIAL INSTITUTIONS

HIGHER EDUCATION INSTITUTIONS

RENEWABLE ENERGY COMPANIES

Figure 3.24 | Relationships of Dominica’s Private Sector Institutions

59

The Renewable Energy Industry in CARIFORUM Countries