Above: the new departures terminal at Lynden Pindling International Airport in Nassau

By the Caribbean Journal staff

The Inter-American Development Bank has approved a $50 million loan to the Bahamas to support an air transport reform programme.

“The Bahamian economy is based on two pillars: tourism and international financial services, both of which are aviation intensive,” said IDB team leader Esteban Diez Roux. “The programme will promote the development of safe and efficient air transport in the country following international standards.”

Roux said air transport was critical to ensure mobility and transport of goods, services and people in the Bahamas and the wider Caribbean region.

There are currently 17 international airlines and 5 domestic carriers servicing the Bahamas, with 53 licensed airports.

The reform aims to introduce a modern civil aviation regulatory regime, to create an independent entity to investigate aviation incidents and accidents and modernize the existing air traffic control.

Also planned is the introduction of a booking system to expand local air carrier services.

The loan is for a 20-year term, with a five-year grace period.