Karnick Kiran Burnette is DAIDB Scholarship winner
KARNICK KIRAN BURNETTE RECEIVES AID BANK’S FIRST EVER SCHOLARSHIP IN CIVIL ENGINEERING
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EIB Provides US$10 million line of credit to the DAIDB
On 14 July 2010 the European Investment Bank (EIB) formally agreed to provide a USD 10 million line of credit to the Dominica Agricultural, Industrial and Development Bank (AID Bank) to ensure continued availability of public and private sector finance during the financial crisis.
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Record Loan Approvals for AID Bank
AID BANK ACHIEVES RECORD LEVEL OF LOAN APPROVALS
The Dominica Agricultural Industrial and Development Bank [AID Bank] has announced a significant increase in the value of loan approvals for the first ten months of its current financial year, which ends on June 30, 2010.
In making the announcement, Chairman of the AID Bank, Mr. Ambrose Sylvester stated that for the ten-month period ending April 2010, the Bank has approved loans with a total value of $ 40.58 million the highest level ever recorded in any one year in the history of the 39-year old institution.
This level of approvals is three times the $ 13.51 million of loans approved for the preceding financial year, which ended in June 2009 and surpasses by fifteen per cent the value of approvals projected for the current financial year with two months still left to go.
The primary sectors which benefitted from the loan financing of the Bank during the period were Tourism: $18.8 million; Industry $ 8.4 million; Student Loans: $2.5 million; Housing: $2.1 million and Telecommunications: $3.1 million.
These sectors, Mr. Sylvester added are the priority sectors identified by the Government for generating economic growth and employment creation in Dominica as outlined in the Growth and Social Protection Strategy [GSPS] and reemphasised by the Prime Minister in his Budget Address in July 2009.
Mr. Sylvester continued by stating that the Bank has taken seriously the mandate given by the Honourable Prime Minister in his 2009 Independence Day message to the nation for the AID Bank to become “the financial engine of economic growth” in Dominica and that the Bank is responding positively but with the requisite due diligence, to the demands from the private sector for developmental funding.
In her comments on the record level of approvals, Mrs. Mathilda John Rose, Executive Manager, Credit Operations, stated that, the improved credit appraisal techniques introduced within the Bank, recent improvements to the loan agreements and security documentation and the increased analytical rigor applied in the appraisal of projects, is certain to lead to a loan portfolio of a significantly higher quality.
May 6, 2010
The Dominica Agricultural Industrial and Development Bank [AID Bank] has announced a significant increase in the value of loan approvals for the first ten months of its current financial year, which ends on June 30, 2010.
In making the announcement, Chairman of the AID Bank, Mr. Ambrose Sylvester stated that for the ten-month period ending April 2010, the Bank has approved loans with a total value of $ 40.58 million the highest level ever recorded in any one year in the history of the 39-year old institution.
This level of approvals is three times the $ 13.51 million of loans approved for the preceding financial year, which ended in June 2009 and surpasses by fifteen per cent the value of approvals projected for the current financial year with two months still left to go.
The primary sectors which benefitted from the loan financing of the Bank during the period were Tourism: $18.8 million; Industry $ 8.4 million; Student Loans: $2.5 million; Housing: $2.1 million and Telecommunications: $3.1 million.
These sectors, Mr. Sylvester added are the priority sectors identified by the Government for generating economic growth and employment creation in Dominica as outlined in the Growth and Social Protection Strategy [GSPS] and reemphasised by the Prime Minister in his Budget Address in July 2009.
Mr. Sylvester continued by stating that the Bank has taken seriously the mandate given by the Honourable Prime Minister in his 2009 Independence Day message to the nation for the AID Bank to become “the financial engine of economic growth” in Dominica and that the Bank is responding positively but with the requisite due diligence, to the demands from the private sector for developmental funding.
In her comments on the record level of approvals, Mrs. Mathilda John Rose, Executive Manager, Credit Operations, stated that, the improved credit appraisal techniques introduced within the Bank, recent improvements to the loan agreements and security documentation and the increased analytical rigor applied in the appraisal of projects, is certain to lead to a loan portfolio of a significantly higher quality.
May 6, 2010
AID Bank gets tough on delinquent students
The Dominica Agricultural Industrial and Development Bank (AID Bank) is aggressively pursuing efforts to address the level of delinquency within its Education Loan Portfolio.
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AID BANK HOLDS ITS 17TH ANNUAL GENERAL MEETING
The Dominica Agricultural Industrial and Development Bank held its 17th Annual General Meeting at the Fort Young Hotel on Monday 22nd February, 2010.
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