Dominica – Artifex.News https://artifexnews.net Stay Connected. Stay Informed. Sat, 05 Oct 2024 04:24:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://artifexnews.net/wp-content/uploads/2023/08/cropped-Artifex-Round-32x32.png Dominica – Artifex.News https://artifexnews.net 32 32 This Country Sells Citizenship To Become World’s Most Climate-Resilient Island https://artifexnews.net/this-country-sells-citizenship-to-become-worlds-most-climate-resilient-island-6720215/ Sat, 05 Oct 2024 04:24:45 +0000 https://artifexnews.net/this-country-sells-citizenship-to-become-worlds-most-climate-resilient-island-6720215/ Read More “This Country Sells Citizenship To Become World’s Most Climate-Resilient Island” »

]]>


In a bid to rebuild and thrive after the devastation of Hurricane Maria seven years ago, Dominica has turned to an unconventional funding source: selling passports, The Washington Post reported. The Caribbean nation aims to become the world’s most climate-resilient island without accruing massive debt or waiting for promised aid from wealthier nations. By offering citizenship to affluent individuals, often from China and the Middle East, for hundreds of thousands of dollars, Dominica has found a way to fund its ambitious recovery efforts.

The nation’s citizenship programme dates back to the 1990s but has rapidly expanded since the hurricane, becoming the primary source of national revenue. Funds raised have been directed toward critical infrastructure projects, including new medical clinics and residential complexes for those displaced by the storm. Former Foreign Minister Francine Baron calls the initiative a “saviour,” while Finance Minister Irving McIntyre emphasized the need for a “self-dependent form of financing” to tackle climate change.

“This programme means a lot to us. We realised we had to get a self-dependent form of financing to deal with climate change,” Mr McIntyre told The Post.

Despite its success, the programme has raised eyebrows over transparency and security concerns. Although the price for citizenship has recently increased to a minimum of $200,000 (Rs 1.68 crore), it remains one of the most affordable options globally. Some recipients reside in Dominica, a small island with a population of 71,000, known for its lush landscapes.

The aftermath of Hurricane Maria severely damaged the economy, with losses estimated at over double the country’s gross domestic product (GDP). Prime Minister Roosevelt Skerrit vowed to rebuild better and more resilient, emphasizing the urgent need for funding to mitigate future climate risks.

Dominican officials claim that climate change, largely driven by emissions from wealthier nations, is resulting in hurricanes that are both more frequent and severe.

Dominica’s proactive stance on climate resilience includes substantial investments in housing and infrastructure. The government claims to have funded around 2,000 homes in locations designed to withstand future disasters.

The nation aims to invest in resilient infrastructure to mitigate climate risks while seeking support from developed nations amid a funding shortfall highlighted by the UN in global climate discussions.

While passport sales have become a lifeline, the approach has sparked debates about the potential risks associated with granting citizenship to individuals with unclear backgrounds. Critics argue that such programs may not be adequately scrutinized. The European Union and other international bodies have raised alarms regarding security measures, especially following reports of Dominica issuing passports to individuals from dubious backgrounds.

Despite the scrutiny, the demand for Dominican passports remains robust. With limited flight options to the US, the island has become a hub for those seeking greater mobility and access through alternative citizenship. However, the rapid growth of the programme has prompted calls for greater oversight and accountability.




Source link

]]>