NASSAU, BAHAMAS – As The Bahamas Development Bank (BDB) prepares to make $10 million dollars worth of capital funding accessible to Bahamian entrepreneurs, made possible through a $30 million dollar capitalization commitment from the Afrieximbank, the financial institution is seeking to make more Bahamian entrepreneurs aware of its aim to support and provide the financial backing necessary for successful business development and growth in country.
Managing Director of the BDB Nicholas Higgs, during his address at the Office of the Prime Minister’s weekly press briefing, said the mission of the financial institution is to support Bahamian businesses while also “fostering a sustainable economic society.”
The $30 million dollar commitment will span over a three year period and the first tranche of $10 million is currently being processed, according to Higgs.
He noted that this venture is the largest capitalization undertaking in the bank’s history.
The funds will be distributed in three separate streams; tourism, agriculture and creative industries, Higgs explained.
