Bahamas News
Bahamas National Trust Welcomes Transformative Funding for Marine Conservation in Historic Project
November 22nd, 2024 – Nassau, Bahamas
The Bahamas National Trust (BNT), along with other partners in conservation, natural resource management, and finance, is supporting The Government of The Bahamas with the official launch of “The Bahamas Debt Conversion Project for Marine Conservation” – a historic initiative that will allow the country to refinance commercial debt while receiving financing to support marine conservation.
As the local conservation organization responsible for managing The Bahamas’ national parks and protecting critical terrestrial and marine ecosystems, the BNT’s role will be collaborating with the Bahamian government and local communities to strengthen stewardship of the country’s recently expanded marine protected areas (MPAs); contribute to the creation of a National Mangrove Management Plan designed to enhance protection, management, and restoration of these essential habitats that support climate resiliency; and develop and implement a marine spatial plan to address increasing demands for use of The Bahamas’ ocean and improve management of the country’s marine areas.
The BNT applauds this project, which will empower us to enhance our capacity for effectively managing MPAs, safeguarding biodiversity, and supporting climate resiliency and sustainable livelihoods across the country.
Developed in collaboration with the Inter-American Development Bank (IDB), The Nature Conservancy (TNC), Builders Vision, AXA XL, and Standard Chartered, the innovative Bahamas Debt Conversion Project for Marine Conservation will generate an estimated USD 124 million of new cash funding for marine conservation over the next 15 years, without adding to the country’s debt. The project is part of the Bahamian authorities’ fiscal consolidation efforts. By repurchasing USD 300 million of external commercial debt using proceeds from a new USD 300 million loan provided by Standard Chartered—secured with favorable terms thanks to credit enhancements from the IDB, Builders Vision, and AXA XL—The Bahamas has reduced its debt stock and scheduled debt service, while simultaneously unlocking essential funding for marine and climate priorities. An endowment, expected to grow to USD 20 million by 2039, will continue funding marine conservation in The Bahamas beyond the project’s 15-year term.
The Bahamas Debt Conversion Project for Marine Conservation is the most recent of TNC’s Nature Bonds projects, which are powerful tools that combine debt refinancing, ecological and social science, conservation planning, and policy to support countries in achieving their
conservation and climate goals. TNC is serving as project sponsor, conservation/technical advisor to The Government of The Bahamas, and credit enhancement facilitator.
Rothschild & Co. served as a financial advisor to The Bahamas Ministry of Finance on this transaction. The conservation funding generated by this project will be managed by The Bahamas Protected Areas Fund (BPAF), a conservation trust fund.
BNT Executive Director Lakeshia Anderson-Rolle said: “Achieving lasting conservation requires bold and sustainable solutions, and funding remains one of our greatest challenges in managing protected areas. The resources from this project will empower us to scale our conservation efforts, build a team capable of managing our growing national park system, and enhance critical infrastructure across our national parks. This initiative is a transformative step toward safeguarding The Bahamas’ natural legacy, ensuring that our unique ecosystems, biodiversity, and local communities thrive for generations.”
As the largest marine conservation funding program in the country’s history, The Bahamas Debt Conversion Project for Marine Conservation will bolster the management of The Bahamas’ extensive marine protected areas, which already encompass more than 17% of its nearshore environment—an indication of the nation’s longstanding commitment to marine conservation, as one of the largest marine protected area systems in the Caribbean.
“Since 1958 The Bahamas has led in ocean conservation, specifically with the establishment of the Exuma Cays Land and Sea Park (ECLSP). Now our nation takes another ambitious step with an economic program that promotes ocean conservation and benefits local communities,” said Rochelle Newbold, Director of the Climate Change and Environmental Advisory Unit of the Government of The Bahamas. “By strengthening the protection and management programs of the marine protected area system, we will safeguard livelihoods, boost the economy, and contribute to global ocean protection goals.”
“Investments in conservation and climate resilience across The Bahamas yield considerable benefits across our islands and for our neighbors,” said Bahamas Protected Areas Fund Board Chair Glenn Bannister. “Growing threats to our natural environment, including over-exploitation, climate change, and increasingly limited funding, are impacting the sustainable management of our resources and have placed critical ecosystems and ecosystem services at risk.
“BPAF applauds The Government of The Bahamas, Inter-American Development Bank, and The Nature Conservancy for structuring The Bahamas’ first debt conversion designed to generate sustainable revenues to protect our most important marine ecosystems and support Bahamian livelihoods. We are pleased to be a part of this very innovative solution.”
This collaborative undertaking between public and private sectors underscores the impact of partnerships to achieve ambitious conservation outcomes. The project represents a commitment to a healthier environment, a stronger economy, and a more resilient future for all Bahamians.
To learn more about the BNT’s role in managing national parks, protecting wildlife, and informing environmental policy, please visit its website: www.bnt.bs, and follow its various social media channels: Facebook, Instagram, Twitter, and YouTube.
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.
Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable
Powerade water bottles and numerous marketing materials.
The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.
Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.
Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.
“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.
Sam Nicholls, Basketball Smiles Camp President and Founder expressed.
“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.
CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.
For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.
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