NASSAU, Bahamas — The government signed agreements for two investment loans worth $70m with the Inter-American Development Bank yesterday. The loans will fund an airport infrastructure programme in the Family Islands and a climate resilient coastal infrastructure and management programme, both of which were approved by Parliament earlier this year, The Tribune reported on June 15 in a story written by Rashad Rolle.
The airport infrastructure programme is designed to enhance airports in North Eleuthera, Exuma, Treasure Cay and Marsh Harbour, Abaco, bringing them in compliance with aviation standards globally.
The climate resilience programme will “use science-based shoreline stabilisation and coastal flooding control measures on the island of Grand Bahama, Long Island and New Providence, as well as restoration of coastal natural habitats, such as mangroves and coral reefs in Andros,” according to the IDB.
It was announced on Thursday that the government will also receive a $500,000 grant from the IDB for a study about economic diversification in The Bahamas.
The analysis will concentrate on digital technology, “blue economy” products like sustainable fisheries and boutique agribusiness products like bananas, papayas, limes and mangoes.
“This event confirms the government’s commitment to channel investment towards Family Island communities, as over the next five to six years, the country will witness the construction or rehabilitation to several Family Island airports and runways,” Deputy Prime Minister and Minister of Finance Peter Turnquest said at Thursday’s press conference. See The Tribune’s full story in BHAMAS CHRONICLE at http://www.tribune242.com/news/2018/jun/15/government-signs-deal-to-borrow-70m-from-idb/
