Markets

Bahamas Gets $24 Million in IDB Loans for Foreign Trade, Poverty Reduction

By: Caribbean Journal Staff - July 19, 2012

Above: Nassau, Bahamas (CJ Photo)

By the Caribbean Journal staff

The Bahamas will be receiving a pair of loans totaling $24 million from the Inter-American Development bank.

The funding will include a $16.5 million credit to support international trade, while a second, $7.5 million loan will target poverty reduction.

“Although the Bahamas is a vibrant economy, the country is somewhat isolated from international trade circles,” said Mario Umaña, the team leader of the foreign trade support project. “As a result of the changes and technical support to be implemented under the programme, the Bahamas will have modern and agile customs operations, and the country will be in a better position to join the World Trade Organization.”

The international trade credit will focus on improving the ability of customs to collect revenue, through a series of modernization measures.

The poverty funding will be highlighted by the consolidation of existing programmes into a Conditional Cash Transfer programme, which will focus on encouraging educational achievement and healthier lifestyles, including obesity control initiatives.

“Better education outcomes will be one of the main goals of the programme,” said Luis Tejerina, the poverty reduction project’s team leader.

According to the IDB, one out of every four children in grade 10 is obese in the Bahamas, a problem that increases with age.

Two out of every three Bahamians between the ages of 21 and 60 years of age are now overweight or obese, the IDB said.

Both loans will be for a 25-year term.

Popular Posts cape santa maria

The Best Caribbean Beach Resort You’ve Never Heard of 

There’s a boat just offshore called “Escape.”  It’s bobbing in some of the most brilliant, dynamic turquoise water I’ve ever seen, a few meters from a stretch of sand so bright and so white you have to squint to look […]


Marriott Is Opening Its New St Regis Resort In Aruba 

aruba st regis inside the restaurant with chairs

It was more than a decade ago that Marriott opened its first-ever Ritz-Carlton resort in the Dutch Caribbean: the Ritz-Carlton, Aruba, which at the time was the island’s first true five-star resort.  Fast forward to 2024, and Marriott is set […]


A Tiny New Boutique Hotel Just Opened on a Pink Sand Beach in The Bahamas 

potlatch club pink sand with blue water

The pink sand, the historic cottages, the chic beach bars and luxe villas. You may be thinking of Harbour Island.  But this is another increasingly hip destination in The Bahamas: Governor’s Harbour, Eleuthera, which just welcomed a brand-new boutique hotel.  […]


Related Posts bahamas resort luxury four seasons

How to Save at the Four Seasons Resort in The Bahamas Right Now

The Versailles Gardens. James Bond’s favorite Bahamian bar. The extraordinary fare at Dune. The brilliant sands of Cabbage Beach.  It’s a full-fledged Caribbean legend: The Ocean Club, a Four Seasons Resort, the celebrated Paradise Island resort that’s always been a […]


New Luxury Real Estate Project Breaks Ground in Nassau 

nassau beach

A new beachfront luxury real estate project has broken ground in Nassau, Caribbean Journal Invest has learned.  The new Vilara Villas has launched construction in the Love Beach area of Nassau.  The project consists of a collection of six luxury […]


$25 Million Home Sells in Harbour Island, The Bahamas 

home harbour island

A $25 million listing in Harbour Island has been sold, Caribbean Journal Invest has learned.  The beachfront “Tickled Pink” home was sold in a deal handled by Corcoran’s Gavin Christie.  The home, perched above and with direct access to Pink […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You