BIDGETOWN, Barbados, CMCTo improve financial resilience and sustainable infrastructure, Prime Minister of The Bahamas Philip Davis has signed a $200 million settlement with the African Export-Import Financial institution (Afreximbank). The settlement, which centered on growing climate-resilient and trade-enhancing infrastructure, was signed on the sidelines of the just-ended forty eighth CARICOM Heads of Authorities Assembly in Barbados.
In accordance with the Workplace of the Prime Minister (OPM), the settlement will facilitate the event of essential infrastructure tasks in The Bahamas, together with highway development, power growth, and different important financial initiatives.
“The framework settlement units out a structured strategy for collaboration between The Bahamas and Afreximbank, leveraging the financial institution’s substantial experience in mission financing, advisory providers, and growth,” OPM acknowledged.
Below the settlement, a joint working group comprising representatives from each The Bahamas and Afreximbank might be established. This crew will establish, plan, and implement strategic infrastructure tasks, guaranteeing transparency and accountability within the choice course of.
This newest partnership builds upon an already sturdy relationship between the Bahamas and Afreximbank. Earlier this yr, the Bahamas agreed to host the thirty first Afreximbank annual conferences and the third AfriCaribbean Commerce and Funding Discussion board in Nassau. These occasions intention to strengthen commerce and funding ties between Africa and the Caribbean, emphasizing shared histories and cultures whereas selling mutual financial development.
Prime Minister Davis underscored the settlement’s significance, stating that it reaffirms his authorities’s dedication to fostering financial growth and enhancing the standard of life for Bahamians.
“By investing in sustainable infrastructure, The Bahamas goals to construct a stronger, extra resilient financial system and safe lasting prosperity for its residents,” OPM mentioned.
The settlement indicators a continued dedication to shared financial development and addressing widespread challenges by collaborative efforts, additional cementing The Bahamas’ function in regional and worldwide commerce and growth initiatives.
