Dominica’s Financial Institutions Get Boost with Compliance Training Program
Dominica has launched a comprehensive compliance training program for financial institutions, backed by the Global Facility for Disaster Reduction and Recovery (GFDRR) and the World Bank.
Strengthening Financial Resilience
The training program aims to equip building professionals and government stakeholders with the necessary skills to improve code compliance and enforcement mechanisms. This is crucial given the region’s vulnerability to natural disasters such as hurricanes and earthquakes, which have devastating human and economic impacts.
Key Areas of Focus
A recent assessment revealed that improving understanding and application of national and Organisation of Eastern Caribbean States (OECS) building codes, as well as relevant engineering principles, are key areas of focus for both building professionals and government stakeholders. The training program will also emphasize the importance of effective communication to promote code compliance and public outreach.
Customizable Training Strategy
The curriculum is designed to enable participants to train others on how to strengthen code compliance and enforcement, taking into account the relative costs and benefits of various interventions. A cost-benefit analysis of hurricane retrofitting solutions for key housing typologies in Dominica found that retrofit packages generally save more than they cost, making it a worthwhile investment.
Pilot Training Program Success
The pilot training program was successfully implemented in March 2023 for representatives from the government of Dominica, as well as the Dominica Society of Architects and the Dominica State College. Participants reported that the training was “very useful” for their roles in building regulations, praising its interactive structure and hands-on features.
Regional Support
GFDRR and the World Bank are now poised to support CARICOM peers as they develop their own training programs for building code compliance and enforcement, sharing the customizable training strategy and implementation plan developed with Dominica. This initiative highlights the importance of strengthening synergies between the building regulations agenda and disaster risk finance agenda in the region.
Benefits
- Improved understanding and application of national and OECS building codes
- Enhanced skills for building professionals and government stakeholders
- Effective communication to promote code compliance and public outreach
- Cost-benefit analysis of hurricane retrofitting solutions
- Customizable training strategy for regional peers