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Bank Provided Billions in Financing

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#Nassau, December 6, 2018 – Bahamas – Regional bank, CIBC First Caribbean has provided over USD$1.8 billion in funding for infrastructure projects over the past three years.

Of that amount USD$500 million have gone to support energy utility companies in the Bahamas, Aruba, Curacao and Jamaica said the bank’s Chief Executive Officer Colette Delaney as she delivered remarks at the opening of CARIF 2018 – 3rd Caribbean Infrastructure Forum at the Baha Mar Resort, Nassau.

“We believe that as a leading regional bank, we have an important role to play in this sector.  Each of the projects we funded was created in response to some specific opportunity or need that existed somewhere in our region,” Ms. Delaney said.

The decision to co-sponsor the conference along with KPMG underlines CIBC FirstCaribbean’s ongoing commitment to the region.  Ms. Delaney said the two-day Agenda zeroed in on some of the pivotal challenges and opportunities confronting the region in terms of infrastructure planning and development.

“These include climate change with its consequent rise in sea level and all that this portends for a region whose key earner is white sandy beaches; stronger storms in areas where building codes are weak or non-existent; rising landfills and shrinking land space as islands struggle to cope with solid waste disposal.  These are some of the real challenges facing this region, which the right partnerships can turn into opportunities.

“Last year’s devastating hurricanes taught us some critically important lessons – chief among them was the very vulnerable nature of key infrastructure in the Caribbean.  We all saw how storms can paralyse entire island-nations many of which have one or two major highways, a single air and seaport, a single power plant and key government and private sector buildings clustered in one location.

The CEO said Hurricanes Irma and Maria had a direct impact on CIBC FirstCaribbean operations in five territories – Anguilla, Antigua, British Virgin Islands, Dominica and St. Maarten.

Ms. Delaney said that if the region is to continue to grow and maximise its fullest potential then “regional bankers and builders, politicians and policy-makers must ensure that future projects – roads, bridges, ports, office buildings and hotels – are not only constructed to withstand the super storms of the future but are also situated in locations that give due consideration to storm surges, overflowing rivers and landslides”.

“In addition, we must also ensure that insurance coverage to mitigate these risks is adequately implemented, regulated and maintained.”

She added that even though this region is blessed with an almost infinite supply of sun, wind, water and thermal energy, with some exceptions, they remain largely untapped resources throughout the region.  Creative private public partnerships for the development and diversification of the energy sector, is need to bring about a more balanced use of green energy along with that derived from traditional fossil fuels.

“It is clear,” she said, “that both public and private investment in physical capital is crucial to driving Caribbean economic development and consequently the creation of wealth for its citizens.

“As an example, a quick look at a sample of 128 developed and developing countries suggests that the quality of a country’s seaport infrastructure and shipping logistics, coupled with widespread access to both telecommunications and electricity are all highly correlated with a country’s GDP per capita and thus, its overall level of development.

“Conversely, a lack of investment in critical infrastructure and essential services in a well planned and executed manner can cripple a country’s economic growth and stifle business development opportunities and foreign direct investment.”

Dr. The Most Honourable Hubert A. Minnis, Prime Minister of The Bahamas opened the conference at Baha Mar noting the timely nature and importance of the infrastructure and financing discussions for the entire region over the next two-days.  He thanked CIBC FirstCaribbean and other sponsors for hosting the important event.

 

Press Release: CIBC First Caribbean

Photo Captions:

Header: Prime Minister of the Bahamas Dr. The Most Honourable Hubert A. Minnis at the start of the CARIF 2018 conference with CIBC FirstCaribbean’s Managing Director, Bahamas and TCI, Marie Rodland-Allen (left) and CEO Colette Delaney.

Insert: Bahamas Prime Minister Dr. The Most Honourable Hubert A. Minnis shares a light moment with Chief Executive Officer of CIBC FirstCaribbean Colette Delaney (left) and the bank’s Managing Director, Bahamas and TCI, Marie Rodland-Allen.

 

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New GPS Evidence Prompts Fresh Search for Missing American Woman in Abaco

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ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.

The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.

Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.

Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.

The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.

Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.

The latest development marks a significant shift in the investigation.

What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.

Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.

Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.

The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.

The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.

The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.

For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.

Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.

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Nassau Opens CDB Annual Meeting at Baha Mar This Week

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NASSAU, BAHAMAS — Regional policymakers, development financiers, economists and international partners are converging on Nassau this week as the Caribbean Development Bank (CDB) stages its 56th Annual Meeting at the Baha Mar Resort from June 1-5, 2026.

Held under the theme, “Forging the Caribbean’s Future: Strategic Solutions for Uncertain Times,” the gathering is expected to place The Bahamas at the center of discussions on some of the region’s most pressing challenges, from climate resilience and energy security to debt sustainability and economic growth.

At the launch of the annual meeting on March 19, CDB President Daniel Best underscored the importance of bringing together leaders from across the Caribbean and beyond at a time of global uncertainty.

“The Annual Meeting provides a strategic moment for the Caribbean, an opportunity for our leaders, governments, development institutions, private sector, youth, and international partners to come together to identify practical solutions that can help the Region navigate uncertainty while unlocking the opportunities that lie ahead,” Best said.

The conference host, newly named Bahamas Minister of Finance and Chairman of the CDB Board of Governors, Michael Halkitis, also emphasized the significance of the event during the March 19 launch ceremony.

“Today’s gathering marks more than the start of preparations for an important meeting. It represents the beginning of a renewed conversation about the future of the Caribbean, about our shared aspirations, our common challenges, and the partnerships that will shape the path forward for our region,” Halkitis said.

He added: “Hosting the 56th Annual Meeting of the Caribbean Development Bank here in Nassau provides an important opportunity to strengthen partnerships and advance meaningful dialogue on the future of the Caribbean.”

Over the five-day meeting, delegates will tackle major issues including energy transition and resilienceinnovative debt solutions for Caribbean economies, and the impact of global economic shocks on regional development.

The programme features a number of high-level events including the Youth FIRE Forum, the William G. Demas Memorial Lecture, the President’s Chat titled Financing the Future: MDB Strategies for Uncertain Times, and a series of policy seminars examining climate finance, infrastructure, economic resilience and development lending.

Among the featured participants are CDB President Daniel Best, Finance Minister Michael Halkitis, senior officials from multilateral development banks, regional finance ministers, central bank governors, economists, development specialists and private-sector leaders. The President’s Chat is expected to bring together leaders of major multilateral development banks to discuss financing strategies for developing states facing mounting economic pressures.

The annual meeting also includes sessions branded “EDGE X by CDB: Analytics Unlocked,” which will explore the economic costs of traffic congestion in the Caribbean and how global crises continue to affect regional economies.

The CDB Annual Meeting traditionally attracts representatives from the Bank’s 28 member countries, including government ministers, senior public officials, development agencies, international financial institutions, youth delegates, academics and private-sector stakeholders. Hundreds of delegates are expected to participate in discussions that will help shape development priorities and financing strategies across the Caribbean in the years ahead.

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

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Afreximbank Annual Meetings Return Next Month; Caribbean Links Remain in Focus

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May 29, 2026 – Two years after The Bahamas made history as the first Caribbean nation to host the African Export-Import Bank’s Annual Meetings, thousands of delegates are expected to gather in Egypt next month for AAM2026.

The 33rd Afreximbank Annual Meetings will be held from June 21-24 in El Alamein, Egypt, under the theme: “Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty.”

The event is regarded as one of Africa’s most important gatherings on trade, investment, finance and economic development, bringing together heads of state, policymakers, business leaders, development finance institutions and international partners.

For Caribbean nations, the meetings hold special significance.

In 2024, The Bahamas welcomed thousands of delegates to Nassau for the landmark event, marking the first time the annual meetings were staged outside the African continent and placing the Caribbean at the center of growing discussions on Africa-Caribbean trade and investment.

Since then, Afreximbank has continued to expand its engagement in the region, promoting stronger commercial ties between Africa and Caribbean countries and exploring opportunities in trade finance, infrastructure development, logistics, investment and private sector growth.

Organizers say this year’s discussions will focus on strengthening intra-African trade, advancing industrialization, building regional value chains and increasing economic resilience amid global uncertainty.

The meetings are also expected to provide a platform for new partnerships, investment opportunities and development initiatives that could have implications beyond Africa, including for Caribbean nations seeking to deepen economic cooperation with the continent.

As leaders prepare to convene in Egypt, the Caribbean’s growing relationship with Afreximbank remains a key part of the institution’s broader vision of expanding trade and investment connections across the Global South.

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

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