#Nassau, September 25, 2018 – Bahamas – In continuation of fulfilling its mandate to expand the Bahamian economy, The Bahamas Development Bank (BDB) travels to Acklins, Crooked Island and Samana Cay, to advance its program to industrialize cascarilla. A town hall meeting will be held in Acklins on September 28th , 2018, 6:30pm at the Spring Point Community Center.
During the visit, participants will be invited to explore the potential of cascarilla and advised of the possible assistance the Bahamas Development Bank can offer. Residents of Acklins have expressed their eagerness to participate in the program and their gratitude for the Bank’s consideration for the development of the island’s economy.
The cascarilla plant is used in the production of Campari and can be used in essential oils, medicine and perfumes. Presently, the Bahamas is exporting only the cascarilla bark to the United Kingdom, Italy, France, The United States of America and Germany. This BDB initiative will seek to facilitate on-island value added production. Key program objectives are to increase export, foster the sustainability of the cascarilla through organized propagation of the plant, facilitate at least two (2) commercially viable cascarilla oil processing facilities, enable the creation of five (5) new ancillary businesses, support expansion of Family Island economies and aid in the creation of many jobs.
The BDB continues to collaborate with various Bahamas Government ministries, statutory bodies and multi-lateral agencies to execute its principle functions which include; promotion of industrial, agricultural and commercial development via financing and investing in approved enterprises, encouraging citizens of The Bahamas to participate in business ownership, and promoting economic development of The Bahamas.
(For further information contact the BDB Public Affairs Department)
“Assisting Bahamians For A Better Bahamas”
Release: Bahamas Development Bank