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Bahamas Development Bank Poised to Expand Products and Services

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#Nassau, October 29, 2019 – The Bahamas – The Bahamas Development Bank is presently undergoing a transformation through which it intends to expand its products and services to maximize existing powers under the Bahamas Development Bank Act, 1974.   

The Bahamas Development Bank (BDB) is making efforts to incubate emerging or struggling industries to expand the economy, create moreopportunities and ensure that natural resources will continue to provide for future generations, Managing Director Dave Smith said in his address of the annual Exuma Business Outlook on the topic, ‘Connecting Resources, Maximizing Opportunities: Transforming Exuma.’

He continued: “These kinds of transformative programs have a higher rate of success/sustainability because BDB is able to connect technical expertise, funding, and governmental support through partnerships with international agencies such as IICA (Inter-American Institute for Cooperation on Agriculture, CARDI(CaribbeanAgricultural Research and Development Institute),and various government ministries, departments and agencies such as the Ministry of Tourism and the Ministry of Agriculture and Marine Resources.”

This approach, he said, creates an environment that facilitates the “ease of getting into and/or doing business”through the bank’s favorable credit terms, coordination that reduces barriers and greater awareness of the available concessions under various encouragement Acts.

The 13th annual Exuma Business Outlook was held October 24th at Sandals Emerald Bay resort. The theme for the event was ‘Stimulating Growth: We’ve Made it our Business.’

Providing an overview, Mr. Smith said the bank’s mandate is to advance opportunities for economic empowerment for Bahamians. Established in 1974, he said unlike any other bank in this country it is a developmental finance institution, driven by profit and the responsibility to create positive externalities that support overall national development through economic investment.

During the past four decades BDB has extended credit to hundreds of entrepreneurs in various sectors such as manufacturing, fishing, services, transportation and tourism; played a significant role in building essential inter-island connections and acted as the principal funding agent for mailboat services and more.

 “This kind of facilitation translates into wealth creation, job creation, increased exports and reduced imports, thus transforming and growingour economy,” he noted.

Today, the bank continues to act as a catalyst for economic development providing loan funding for small and medium Bahamian enterprises through partnerships with the Small Business Development Center.

Mr. Smith highlighted the bank’s investment in a number of programmes and initiatives aimed at spurring economic activity across the archipelago.  He cited two examples: the Industrialization of Cascarilla in Acklins, Crooked Island and Samana Cay and an Apiary Programme in Grand Bahama where more than 30 young persons were trained in “bee keeping.”

He advised that a sustainable approach to development that includes climate resiliency for businesses and residents is more necessary since the passing of Hurricane Dorian.

“As we look to rebuild, BDB will champion opportunitiesfor Bahamians that will ultimately enhance our self-sufficiency. In the short term, we are proposing a poultry revitalization project for Grand Bahama and a small ruminant program for Long Island that will combine training, logistics, and market preparedness.  We anticipate that these pilot projects will be duplicated where appropriate,” he said.

Bonefishing tours, fishing boats and equipment, vehicles and taxis, hotels and motels are among the industries that the BDB has extended loans for in Exuma.

He said the bank is working to strengthen partnerships with impactful organizations such as the Chamber of Commerce.

As BDB transforms, Mr. Smith noted: “While our credit extension facilities have supported SME growth across the archipelago over the last four decades, we will increase our efficacy by expanding or activities to include those typically offered in our region by development financing institutions (e.g. capital leases, guarantees, equity positions) in concert with other local development institutions.”

“Further, as BDB continues to be a catalyst for economic development we recognize stakeholder collaboration and partnership, service consistency and communication to raise awareness in the areas of access and opportunity as important axioms for BDB’s success. We intend to be transparent and inclusive as we craft and communicate our progress on specific programs and policies,” he added.

Release: BIS

Photo Caption: Bahamas Development Bank Managing Director, Dave Smith.

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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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