NASSAU, BAHAMAS — Parliamentarians are today debating a resolution authorizing the transfer of $17 million from the Dormant Accounts Fund into the national Disaster Emergency Fund. The move aims to strengthen the Bahamas’ ability to respond swiftly to hurricanes and other natural disasters.
Prime Minister Philip Davis said the measure ensures that “when disasters strike, our government has the financial capacity to respond swiftly, effectively, and equitably.” He added, “We cannot prevent storms from forming, but we can strengthen our nation’s capacity to withstand and recover from them.”
The transfer is in line with the Disaster Risk Management Act, 2022, which mandates a sustainable financial framework for disaster preparedness and recovery. The $17 million allocation will come from dormant accounts held by the Central Bank, which reported a total of $128 million across more than 45,000 inactive accounts at the end of 2024. Davis said the resolution ensures that “resources that were sitting idle can now serve a national purpose,” providing immediate relief to families in the critical hours after a storm while advancing the government’s broader strategy for fiscal and climate resilience.
