Nassau Bahamas, 18 September 2023- The Finance in Common Summit recently held in Colombia gathered national development banks (NDBs), including The Bahamas Development Bank (BDB), and emphasized the major role they play as a link between international and domestic finance related to project development financing and micro, small and medium enterprises (MSME) lending.

The event noted that $4-5 trillion is needed annually for the sustainable development goals (SDGs) to be accomplished globally, private finance will be key to sustainable, inclusive development and NBDs can lead in de-risking and structuring opportunities that are attractive to private financiers. It also stressed that the global focus on SDGs related to factors such as inclusion, climate and gender must consider the unique needs of small island developing states (SIDS) such as The Bahamas.

The Bahamas Development Bank’s Manager of Strategic Development and Initiatives, Sumayyah Cargill, was invited to speak on a panel organized by the European Investment Climate Reform Facility at the summit alongside representatives from Belize, South Africa, and France. President of the Caribbean Development Bank, Hyginus Leon, delivered the keynote address. During Ms. Cargill’s presentation on the impact of technical assistance, she underscored the importance of a strong NDB to progress national economic and social goals.

BDB has positioned itself as the bridge to channel international funding to meet national needs. The bank’s steady growth has resulted in the implementation of necessary structures and increased its capacity to engage with international funders and lead in both packaging projects and bundling smaller projects to attract private financing.

Ms. Cargill said, “SIDS have unique vulnerabilities. We are tasked with building resiliency for the increasingly devastating impacts of climate change while also trying to lift the standards of living for our people. These challenges can be transformed into opportunities with the right investments. However, weak project implementation capacity and a deficit in bankable projects are holding back growth. A well-functioning development bank is a robust mechanism to execute policy driven projects and channel financing to sustainable development. BDB is rising to that challenge with the support of the international community. In the last four years, we have created new policies and programs, integrated the SDGs into operations and have committed to climate and gender equitable financing. We are confident that we have laid a foundation that will see us become a regional leader in innovative, sustainable financing.”

BDB’s improved structuring and increased capacity has been supported by partners such as the Caribbean Development Bank, Green Climate Funds’ readiness program, United Nations Women and Investment Climate Reform Facility.

Highlighting the bank’s recent unveiling of international financing opportunities for creatives, Ms. Cargill added, “long term relationships with multilaterals can have rebounding impact. From our experience, there is a direct line between technical assistance from multilateral to real opportunities for entrepreneurs.

“BDB has far to go but already has a lot to share in many areas. We recognize how important it is for us to not just act as a channel for funding but for mainstreaming SDGs, climate, and gender equitable principles into the wider economy.  As a NDB, we are learning to lead in transmitting the values set at the international level because we are that critical bridge.”

BDB is seeking accreditation as the first national direct access entity for the Green Climate Fund, is the national coordinating authority for Build Bank Better, a joint SDG fund project, is a member of the National Climate Change Committee, and was elected to chair the SDG Technical Committee for Economic Prosperity in the Office of the Prime Minister.

Ms. Cargill underscored, “Well-executed technical assistance is a major driver of BDB’s growth. Likewise, partnerships are core to who we are and we remain open to collaborating on solutions to the challenges we face, and to do mutually-beneficial business. Strengthening The Bahamas Development Bank strengthens The Bahamas.”

Photo Caption

 The Bahamas Development Bank’s (BDB) Manager of Strategic Development and Initiatives, Sumayyah Cargill, stands third from left. Ms. Cargill was invited to speak on a panel organized by the European Investment Climate Reform Facility at the 4^th edition of the Finance in Common Summit.

Rashaed Esson

Staff Writer

#TheBahamas, September 19, 2023 – Royal Caribbean is working on a major project, announcing plans to open a new adults-only “escape” Hideaway Beach at its CocoCay private-island destination in The Bahamas, come January 2024.

The “beachfront paradise,” set to be situated at the western side of Perfect Day at CocoCay, behind Thrill Waterpark, will have a private beach and multiple pools with DJ music, 20 private cabanas and several spots for “drinks and bites,” the company says.

Not only that, it will include a “hidden VIP experience.”

Michael Bayley, Royal Caribbean International President and CEO is of the impression that this will bring a compelling, sought after new way to enjoy a day at its private island.

He said, “Hideaway Beach is a completely new vibe and experience that vacationers are looking for on Perfect Day at CocoCay.”

It is going to be a getaway spot for adults, only 18 or older allowed to enter.

“Everything from its hidden-like location to the exclusive beach and pools to the private cabanas is designed for adults who want a day just for them,” the CEO said.

The space, according to Claudia Diaz-Gonzalez, Royal Caribbean Associate Vice President of Private Destination Development, will be able to host between 1,500 and 2,000 guests.

No specific day was provided for the opening.

#Eleuthera, The Bahamas, September 19, 2023 – A Family Island clinic that started with a vision to serve the community with the best in private medical care and wellness regardless of a patient’s financial standing celebrated its fifth anniversary this month, announcing new services it said were those most strongly requested by patients.

Eleuthera Medical Center (EMC), the flagship of Bahamas Wellness Health Systems, marked its anniversary adding dental and dermatology to its growing list of medical specialties that includes primary wellness, vision, gynecology and pediatrics. Some services are offered on an ongoing daily basis provided by physicians at one of Bahamas Wellness Health Systems (BWHS) four clinics, others are offered on a rotating basis by visiting medical specialists and associates on a regularly scheduled rotating basis.

“When we opened our doors to this clinic in 2018, we knew there was a need for full-time medical care and especially attention to wellness in Eleuthera,” said EMC and Bahamas Wellness Health Systems founder Dr. Arlington Lightbourne. “But we underestimated how appreciative the community would be that there were always physicians on call, that in the case of an emergency we could respond, that we provided an ambulance and emergency care saving patients from having to be airlifted to Nassau or beyond.”

Lightbourne said the years have not been without challenges.

“For nearly 18 months, we endured COVID, conducting testing outdoors, trying to keep our spirits strong and staff well so they could care for others and yet in a small community like Eleuthera where you know someone in everyone’s family it’s hard not to feel the pain and suffering others feel,” said Dr. Lightbourne. “But we doubled down and said we are here for the long haul and whatever the path is to provide the best in care, to make that care affordable and to improve the wellness of the community overall, that is the journey we are on, and it has been an incredibly rewarding one.”

To support that emphasis on wellness, the clinic located in the settlement of Palmetto Point adjacent to Governors Harbour in the heart of central Eleuthera, offers regularly scheduled lectures and town meetings with a nutritionist and wellness expert who is part of the team. Lightbourne’s interest in well-being stems from his work in Emergency Care at both PMH and Doctors Hospital where the vast number of cases he treated were the result of non-communicable diseases and conditions including heart attacks, high blood pressure and cancer related to lifestyle – poor diet high in fats and low in nutrition and lack of proper physical exercise.

Today, he said he is seeing more interest in preventative care, a sign that Bahamians learned from Covid and its aftermath that wellness matters.

“We have a brighter future ahead of us and I am proud of what we are doing in Eleuthera and our other clinics to make a difference in The Bahamas with careful diagnoses and individual attention to how people conduct their daily lives when it comes to their overall wellness,” said Lightbourne, now the deputy director of the Bahamas Medical Association and an authorized NHI provider.

BHWS also operates clinics in Nassau, Spanish Wells and Lower Bogue.

Photo Caption: The Hon. Clay Sweeting, MP, Central and South Eleuthera, welcomes the Bahamas Wellness Medical Center’s ambulance. He is pictured with Dr. Jessica Moss, Emergency Medicine Specialist and Vice President & Medical Director at Eleuthera Medical Center, and Dr. Arlington Lightbourne, founder of the expanding clinic, which is celebrating its fifth anniversary serving the community by adding dental and dermatology to its growing list of specializations.