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JAMAICA: PM says NWC $15 Billion Local Bond Will Transform Entity

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#Jamaica, May 17, 2018 – Kingston – Prime Minister, the Most Hon. Andrew Holness, says the $15-billion local bond facility established by the National Water Commission (NWC), will now help to transform the entity into a viable asset for long-term investment.

“We are now creating the NWC as an asset in which pension funds, and other such funds, like insurance funds, can invest,” he explained, while addressing a press conference held at Jamaica House on Tuesday (May 15) to provide further details on the bond issue.

Mr. Holness said the Government recognises that the NWC is “an incredible asset”, but lamented that for many years, it has had a poor balance sheet.  He noted that the local bond issuance will now allow the NWC to refinance a significant portion of its high interest rate foreign currency denominated loans, which will reduce the Commission’s exposure to foreign exchange losses.

Over the years, the NWC has suffered significant financial losses due to the negative impacts of declines in the exchange rate of major trading currencies against the Jamaican dollar.  The foreign exchange losses incurred by the company for the 2014 to 2017 period amounted to $5 billion.

The Prime Minster said that in making the NWC financially stronger, it will be able to take on more capital projects, noting that a significant portion of the $15-billion bond will be used to finance capital projects, which include laying pipes, dealing with sewerage infrastructure, treatment and repairs.

“Because the NWC is now a financially viable asset, it does not have to depend on government support or revenue. It can now engage on equal footing with the private sector, through public/private partnerships, because it has a stronger balance sheet to execute these projects,” he said.

The Prime Minister further noted that he is pleased that the arrangement, which is the largest the NWC has ever undertaken, is being done without a government guarantee, and at competitive interest rates.  It will also be the second largest Jamaican dollar denominated transaction of this nature.

Mr. Holness said he also welcomes another important aspect of the facility, where a substantial portion of the bond will be loaned to the Government for 40 years.  He noted that this is significant, because it demonstrates that the market is not only willing to lend without a government guarantee but for such a long period.

Under the arrangement, which was facilitated through the National Commercial Bank Capital Markets Limited, the NWC will have immediate access to $12.51 billion to refinance specific foreign currency denominated loans and also provide funding of $3 billion to undertake a number of agreed capital projects islandwide in the fiscal period 2018/19.

The remaining $2.49 billion from the bond issue is to be received in 12 months, on condition that the Commission would have achieved stipulated targets relating to its on-revenue water (NRW)-reduction programme in Kingston and St. Andrew, and implementation of its new high-performance digital water meters, among other things.

 

Release: JIS

 

 

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Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

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Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

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CBC Supports Opportunities for Young Bahamian Basketball Players

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Dasani products, proudly sponsored the fifth annual, Caribbean Hoopfest.

The tournament brings together Bahamian high school basketball teams and visiting teams from the United States for a competitive showcase at the Kendal G. L. Isaacs Gymnasium.  Following its inaugural year at the Kendal G. L. Isaacs gym and last year’s event at Loyola Hall, the tournament returned to the Kendal G. L. Isaacs gym this year.

During the weekend tournament, CBC kept athletes well hydrated with in-kind donations of Dasani Water, Powerade and Minute Maid Juices.

During the tournament’s final day, CBC provided additional support by offering Sprite No Sugar samples and inviting attendees to participate in its Spin the Wheel for a chance to win exciting prizes.

CBC was proud to support this incredible event, which provides young Bahamian athletes with valuable exposure to U.S. basketball scouts and coaches. This opportunity gives them the chance to earn scholarships, continue their education, and pursue their basketball careers in the United States.

Event organizer, Donald Francois shared his appreciation for CBC’s support.

“I want to express our sincere appreciation for Caribbean Bottling Company, who has been a tremendous supporter and an important part of the success of our program. Without CBC’s support, Caribbean Hoop Fest would not be able to function at the level it does today. And without Caribbean Hoop Fest, we would not have been able to provide the opportunities that have helped young Bahamian athletes gain exposure and pursue educational opportunities in the United States,” he expressed.

Since the program’s inception, several Bahamian student-athletes have been selected for scholarship opportunities, highlighting the tournament’s growing impact on the development and advancement of young basketball talent in The Bahamas.

They are: Kelvin McDowells – Guard, Wodson Antoine – Power Forward, Justin Lafleur – Guard and Sean John – Guard.

After another successful edition of the tournament, Francois shared what he hopes he and Caribbean Bottling Company can achieve in the future.

“Our vision is bigger than basketball. We want to use the platform of Caribbean Hoop Fest to educate, develop, and create opportunities for young people and their families throughout the Bahamas. With individuals and organizations committed to our mission, we believe we can continue to grow the program and make an even greater impact,” Francois said.

For more details on community support, events and new products visit Caribbean Bottling Company at www.cbcbahamas.com today.

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More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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