News
Open Letter from Five Cays
#TurksandCaicos, September 11, 2023 – Calling Hon Rachel Taylor, Elected Representor for Five Cays, along with your PNP Government, The Commissioner of Police, and The Superintendent of Police.
You were Elected, and now we feel Neglected! DID YOU COME FOR THIS “WOK”? I hope this letter finds you well.
We are writing to address the urgent matters that affect the residents of the Five Cays community, sometimes it’s good to sit and be silent, allowing the happenings of today to pass and the action of tomorrow to be realized. It is
time to break the silence and take meaningful action to address the challenges we face. We can no longer wait idly for the elected Government and the Police Department to fulfill their responsibilities. We need concrete steps and real progress, not merely symbolic gestures.
First and foremost, we are seeking answers.
The faith we once had in our leaders has been eroded by recent events.
With four deaths in a single week during June alone, coupled with the escalating violence over the past two years and a lack of effective communication on prevention and deterrence, our faith is diminishing each day. We must now question the methods employed and demand transparency.
How are the CCTV cameras being utilized? Has data collection been conducted to ensure the cameras are adequately positioned in the Five Cays area, particularly in high-crime zones? How has this substantial investment contributed to crime-solving efforts in one of the most challenging areas? Furthermore, communication is of utmost importance.
Currently, there is a severe lack of updates provided to families and communities regarding ongoing investigations. It feels as though we are left in the dark, only receiving updates when arrests are made. However, what about the families eagerly awaiting news while investigations are ongoing? Why is there so much radio silence? A system for regular updates and information dissemination needs to be established to address this issue effectively.
We, the residents of Five Cays, deserve more than last-minute road repairs and empty promises. We yearn for a time when our community is viewed with respect and admiration, rather than being perceived as a haven for violence and unanswered questions.
We long for the day when we can traverse the roads you so eagerly repair and feel acknowledged and understood. It is disheartening to realize that Five Cays does not appear to be the focus of your work.
We implore our elected officials to roll up their sleeves and genuinely commit to the tasks they vowed to undertake. You must provide answers, make meaningful efforts, and implement necessary changes to transform Five Cays into a place of decency and respectability.
The good news is that we genuinely want you to succeed in your endeavors. We desire a better Turks and Caicos culture and reject the path of violence and diminished quality of life. We want to afford the elected Government a fair
opportunity to guide us toward a prosperous future for the next generation—one where the Turks and Caicos Islands boast a thriving, vibrant culture.
Therefore, we kindly request a face-to-face meeting, inviting you to join us in our backyard. It is time to get your hands dirty and visit the areas where none of you reside, where the fear of safety does not haunt your every step.
We seek a chance to sit down with you, and the elected officials, and discuss how we can collaboratively find workable solutions and foster better relations for the benefit of Five Cays. It is crucial to remember that a chain is only as strong as its weakest link, and presently, our chain is in pieces.
We eagerly anticipate your positive response and willingness to engage in dialogue that will lead to the transformation we so desperately need. Together, let us strive towards building a stronger, safer, and more united community.
Sincerely, The Concerned Residents of Five Cays
NB: Please do not take this letter lightly. Enough is Enough!
Dana Malcolm
Staff Writer
#UnitedKingdom, September 24, 2023 – For the first time since 2021, the Bank of England has decided to ‘hold steady’ on interest rates rather than increase them.
The decision comes following an unexpected fall in inflation in the European country. 
It means UK consumers’ interest rate remains at 5.25 percent. According to the BOE reports tabled on September 21st, only 5 of the nine members of the Monetary Policy Committee (MPC) voted to keep the rate steady.
The Bank expects the inflation rate, currently at 6.7 percent, to reach the two percent target by mid-2025 and food inflation is going down.
But at the same time, the UK’s Gross Domestic Product GDP declined in July and growth is expected to stay weak, plus, unemployment is on the rise in the country.
“The Labour Force Survey unemployment rate rose to 4.3 percent in the three months to July, higher than expected in the August Report,” the bank explained.
The US also recently held steady on its interest rates after a significant period of increase.
Dana Malcolm
Staff Writer
#TurksandCaicos, September 24, 2023 – The Government expects to amend the Turks and Caicos Constitution this legislative year. In a follow-up to the opening of parliament on September 14th, the Government shared a list of the legislative changes they expected to see before the House of Assembly this parliamentary year. Included in that
list was a Constitution Amendment Order.
The last time a constitutional order passed regarding the Turks and Caicos was in 2011 during the UK government takeover.
The UK and Turks and Caicos are already working to update the document to give the local Government more operating power. The country has hired Jeffery Jowell to consult on the updates but no communication on what those might look like has yet come from TCIG.
With bipartisan support, Washington Misick, TCI Premier, is decisive in what he wants from the new document.
“As we decisively demonstrate our capacity to govern with competence and integrity, the UK must recognize, accept and endorse that we have the authority over domestic affairs. We are not asking- we’ve paid our price,” he said in the 2023 State of the State Address.
An upcoming meeting on the constitution between the UK and TCI is set for next month.
Nassau Bahamas, 18 September 2023- The Finance in Common Summit recently held in Colombia gathered national development banks (NDBs), including The Bahamas Development Bank (BDB), and emphasized the major role they play as a link between international and domestic finance related to project development financing and micro, small and medium enterprises (MSME) lending.
The event noted that $4-5 trillion is needed annually for the sustainable development goals (SDGs) to be accomplished globally, private finance will be key to sustainable, inclusive development and NBDs can lead in de-risking and structuring opportunities that are attractive to private financiers. It also stressed that the global focus on SDGs related to factors such as inclusion, climate and gender must consider the unique needs of small island developing states (SIDS) such as The Bahamas.
The Bahamas Development Bank’s Manager of Strategic Development and Initiatives, Sumayyah Cargill, was invited to speak on a panel organized by the European Investment Climate Reform Facility at the summit alongside representatives from Belize, South Africa, and France. President of the Caribbean Development Bank, Hyginus Leon, delivered the keynote address. During Ms. Cargill’s presentation on the impact of technical assistance, she underscored the importance of a strong NDB to progress national economic and social goals.
BDB has positioned itself as the bridge to channel international funding to meet national needs. The bank’s steady growth has resulted in the implementation of necessary structures and increased its capacity to engage with international funders and lead in both packaging projects and bundling smaller projects to attract private financing.
Ms. Cargill said, “SIDS have unique vulnerabilities. We are tasked with building resiliency for the increasingly devastating impacts of climate change while also trying to lift the standards of living for our people. These challenges can be transformed into opportunities with the right investments. However, weak project implementation capacity and a deficit in bankable projects are holding back growth. A well-functioning development bank is a robust mechanism to execute policy driven projects and channel financing to sustainable development. BDB is rising to that challenge with the support of the international community. In the last four years, we have created new policies and programs, integrated the SDGs into operations and have committed to climate and gender equitable financing. We are confident that we have laid a foundation that will see us become a regional leader in innovative, sustainable financing.”
BDB’s improved structuring and increased capacity has been supported by partners such as the Caribbean Development Bank, Green Climate Funds’ readiness program, United Nations Women and Investment Climate Reform Facility.
Highlighting the bank’s recent unveiling of international financing opportunities for creatives, Ms. Cargill added, “long term relationships with multilaterals can have rebounding impact. From our experience, there is a direct line between technical assistance from multilateral to real opportunities for entrepreneurs.
“BDB has far to go but already has a lot to share in many areas. We recognize how important it is for us to not just act as a channel for funding but for mainstreaming SDGs, climate, and gender equitable principles into the wider economy. As a NDB, we are learning to lead in transmitting the values set at the international level because we are that critical bridge.”
BDB is seeking accreditation as the first national direct access entity for the Green Climate Fund, is the national coordinating authority for Build Bank Better, a joint SDG fund project, is a member of the National Climate Change Committee, and was elected to chair the SDG Technical Committee for Economic Prosperity in the Office of the Prime Minister.
Ms. Cargill underscored, “Well-executed technical assistance is a major driver of BDB’s growth. Likewise, partnerships are core to who we are and we remain open to collaborating on solutions to the challenges we face, and to do mutually-beneficial business. Strengthening The Bahamas Development Bank strengthens The Bahamas.”
Photo Caption
The Bahamas Development Bank’s (BDB) Manager of Strategic Development and Initiatives, Sumayyah Cargill, stands third from left. Ms. Cargill was invited to speak on a panel organized by the European Investment Climate Reform Facility at the 4th edition of the Finance in Common Summit.
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