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Investing in nature management is crucial to TCI’s economy – Strengthening nature management in TCI through capacity building and long-term financing

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#TurksandCaicos, August 18, 2017 – Providenciales – DECR staff and representatives from the Ministry of Finance, the Ministry of Tourism, Environment, Heritage, Culture and Gaming, and the civil society are meeting in Providenciales with research consultants from Wolfs Company to discuss the preliminary findings of the AGRRA reef assessment conducted in May, and discuss the importance of nature for TCI’s economy and opportunities to increase financing for nature management and monitoring in TCI.

During the meetings, representatives from Wolfs Company presented the key findings from the sustainable finance project conducted in 2015-2016 with the support from the partnerships of the Gulf and Caribbean Fisheries Institute and the US National Oceanic and Atmospheric Administration (NOAA).

“The meetings provided valuable information to the participants on the importance for nature to TCI’s economy. This will support DECR and other nature management organizations in building a fact-based business case to increase financing for nature management”, said Viviana Luján Gallegos, partner at Wolfs Company. Wolfs Company is a research company on environmental economics based in Bonaire and Amsterdam.

The project estimated that the natural resources of TCI contributed an economic value of USD 45.5 million per year to the tourism industry. This analysis did not quantify other ecosystem services provided by nature, such as coastal protection, fisheries and local recreation. Based on a financial plan that calculated the budget needs for DECR to improve their management of marine protected areas, an incremental investment needed to effectively manage and protect TCI’s natural resources could be covered by, for example, earmarking only 1.8% of the tourism-related revenues (around USD 1.1 million from USD 61.5 million).

“The economy of the Turks & Caicos Islands (TCI) depends in large part on tourism, and tourism in turn is heavily dependent on TCI’s natural resources – especially its beaches, natural landscapes, clean coastal waterways and vibrant coral reefs. However, there is a large disconnect between the revenues that are generated from, amongst others, tourism and the investment that has been made in the management of the natural capital that underpins these revenues. A relatively small incremental investment in the financing of the organizations responsible for the natural resources of TCI would contribute significantly to improve the management and protection of essential natural capital.  DECR would encourage further use of Natural capital valuation by TCIG to further demonstrate the value of nature to TCI’s economy in planning and development strategies for TCI” said Mr. Ethan Griesbach, acting Director of the Department of Environment and Coastal Resources (DECR).

The meetings also served to present the preliminary findings and suggestions of the ongoing BEST 2.0 project financed by the BEST 2.0 initiative with funding from the European Commission.

The preliminary results of the assessments conducted during the AGRRA training, held in May in Providenciales, in the framework of this project, show that in the two sites surveyed (one inside and one outside the Princess Alexandra Park) the coral cover has decreased in comparison to the findings of a baseline monitoring survey conducted in TCI in 1999. Other reef health indicators show improvement, which could be attributed to effective conservation policies, like the fishing ban on parrot fish.

To assess whether in general the health of the coral reefs in TCI is declining, a new baseline survey of all the sites assessed in 1999 will need to be conducted. In addition, suggestions were presented for other management and socio-economic indicators that could be applied by DECR to track and report the benefits of more investments in nature management. Finally, discussions were held on suggestions to improve the long-term financing for monitoring and nature management in TCI, including potential sources of revenue and legal mechanisms that will guarantee that these funds will be only used for nature management.

“I am convinced about the importance of our natural resources to the health of our economy. These types of initiatives are important to provide fact-based information to decision makers to support policy that will enhance our capabilities to manage and conserve our valuable natural resources. I will support the consideration by our government of options to achieve this, including mechanisms that could be similar to the Conservation Fund we had in the past” said Honorable Minister Higgs, Minister of Tourism, Environment, Heritage, Culture and Gaming. The Conservation Fund that provided additional financing for nature management organizations in TCI was abolished in 2009.

For more information please contact:

Mr. Ethan Griesbach at egriesbach@gov.tc

Mrs. Viviana Luján at viviana.lujan@wolfscompany.com

Press Release: TCIG

 

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Caribbean News

Team Trinidad & Tobago Makes Waves with Historic CARIFTA Aquatics Performance

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April 14, 2026 – Team Trinidad and Tobago delivered one of the most commanding performances at the 2026 CARIFTA Aquatics Championships, finishing third overall in swimming and second in athletics, signaling a powerful resurgence on the regional stage.

Competing in Martinique, the swim team amassed an impressive 747 points and 59 medals—20 gold, 19 silver and 20 bronze—in what officials are calling a historic showing. The result marks a significant step forward from previous years, reinforcing the country’s growing strength across disciplines and age groups.

Standout performances came from a deep and talented squad. Zahara Anthony led the charge with 72 points, dominating the Girls 11–12 division across freestyle, butterfly and individual medley events. Liam Carrington followed closely with 69 points, delivering a near-flawless campaign in the Boys 15–17 category, while Marena Martinez, Xaiden Valentine and Serenity Pantin added critical points with consistent podium finishes.

The team’s strength was not limited to individual brilliance. Athletes like Micah Alexander, Ethan McMillan-Cole and Jaden Mills showcased versatility and depth, while relay contributions from swimmers including Julius Ennals and Anpherne Bernard helped secure the team’s overall standing.

The performance drew high praise from the Ministry of Sport and Youth Affairs in Trinidad and Tobago, which welcomed the team home in celebration of what was described as a defining moment for the programme.

Minister Phillip Watts noted, “This success is not accidental. It is the result of hard work, structure, vision, and belief. Our young athletes are proving that Trinidad and Tobago is rising again.”

He added that every performance sent a clear message across the region that the country is “not standing still… we are moving forward.”

The showing in Martinique underscores the impact of sustained investment in youth development, coaching and systems, with Team TTO emerging as one of the most complete and competitive squads at CARIFTA 2026.

With momentum now firmly on their side, Trinidad and Tobago’s swimmers are not just competing—they are setting the pace for the future of Caribbean aquatics.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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Bahamas News

New Manifestos Released as Bahamas Heads to Historic May 12 Vote

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The Bahamas, April 14, 2026 – With the 2026 Bahamian general election set for May 12, the country’s major political parties have now formally placed their plans before the electorate, offering competing visions for governance, growth and relief.

The governing Progressive Liberal Party (PLP), led by Philip Davis, launched its “Blueprint for Progress 2026” on April 8, 2026, outlining a 46-page plan focused on long-term development and systems reform. The document places heavy emphasis on energy transition, digital government, workforce training and food security, positioning the party as one seeking continuity following its first term. The full plan is publicly available online through official PLP platforms for voters to review.

Just days later, on Sunday, April 12, the opposition Free National Movement (FNM), under Michael Pintard, unveiled its 2026 Manifesto at a major event in Nassau. Spanning 54 pages, the document centers on cost-of-living relief, tax reform, healthcare expansion and housing, offering what the party describes as a more immediate response to economic pressures facing Bahamian families. The FNM has also made its manifesto accessible online.

Beyond the two major parties, the Coalition of Independents (COI) had already entered the policy space earlier, formally unveiling its long-range Vision 2030 framework on Saturday, March 1, 2025, at the Fusion Superplex in Nassau during a packed national launch led by party leader Lincoln Bain. That framework has since been complemented by a 100-day action plan released in late March/early April 2026, adding a short-term policy layer to its long-range proposals.

These policy rollouts come as the country prepares for a pivotal vote, with the Parliamentary Registration Department confirming a voters’ register of approximately 203,000 eligible voters, one of the largest in the nation’s history. Key dates are now set, with Nomination Day on April 16, followed by advance polls on April 30, ahead of General Election Day on May 12.

With platforms now in the public domain and the timeline locked in, the focus shifts squarely to the electorate—who must now weigh the promises, examine the plans and decide the country’s direction at the polls.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

From Concept to Approval: What a 2019 Water Security Plan Now Means for Bahamians

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The Bahamas, April 14, 2026 – At its core, the $65 million water security project is designed to strengthen the reliability, safety and resilience of the water supply across The Bahamas.

If implemented as planned, the investment is expected to improve water quality, reduce contamination risks and support public health, while increasing supply reliability and limiting service disruptions during droughts or system failures. The project also aims to expand and upgrade infrastructure, including wellfields, pumping stations and storage capacity, and to protect freshwater resources from saltwater intrusion—an increasing threat for low-lying islands. In practical terms, that could mean cleaner, more consistent and more dependable access to water for residents across the country.

The project was first conceptualised in 2019 under the previous administration, when a proposal was submitted to the Green Climate Fund to strengthen the resilience of the country’s water systems. That early work came just months before Hurricane Dorian exposed the vulnerability of national infrastructure, including critical water and sanitation systems, particularly in the northern Bahamas.

The initial phase focused on developing the concept, identifying priority areas and engaging regional and international partners, including the Caribbean Development Bank, to support the design and preparation of a full funding proposal.

Following the change in government in 2021, the project advanced into its most technical and demanding stages. The current administration oversaw the completion of key requirements, including feasibility studies, environmental and social assessments, and detailed financing negotiations with international partners—steps necessary to move the proposal from concept to approval.

That multi-year process has now culminated in approval of a $65 million financing package, combining grant funding with concessional loans to support long-term upgrades to the country’s water infrastructure.

While the project brings significant international support, it is not entirely free money. The package is structured as a blended financing arrangement, combining grant funding with concessional loans—meaning a portion of the funding will ultimately need to be repaid. Based on information released by the Caribbean Development Bank, approximately $25 million of the total package is tied to loan financing, with the remaining portion provided as grant support.

Concessional loans typically carry more favourable terms than commercial borrowing, including lower interest rates and longer repayment periods. However, they still represent debt obligations that will be borne over time.

Notably, detailed terms of the loan components—including interest rates, repayment schedules and any associated conditions—were not disclosed in the initial announcement issued by the Office of the Prime Minister (Bahamas). Those details are expected to be outlined in formal financing agreements, but have not yet been made public.

For Bahamians, the project represents both investment and obligation. While the grant funding provides a significant boost to infrastructure development, the loan component adds to the country’s long-term financial commitments—making transparency around terms and implementation timelines especially important.

While the approval marks a significant milestone, the timeline for delivery remains a critical factor. Based on information available from project partners, implementation is not expected to begin immediately. The initiative is anticipated to move into its execution phase later in 2026, following finalisation of financing agreements and completion of preparatory requirements.

From there, the project is projected to unfold over several years, with estimates suggesting a multi-year implementation period of up to seven years to fully deliver the planned upgrades to water infrastructure across The Bahamas.

This means that while the funding has now been approved, the benefits will be realised gradually rather than all at once. A definitive completion date has not been publicly outlined, and detailed timelines tied to specific islands or phases of work have yet to be disclosed.

For Bahamians, the question now shifts from approval to execution—when funds are drawn down, when construction begins, and how consistently the project moves from plan to delivery.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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