STATE Minister for Finance Michael Halkitis brought a resolution to the House of Assembly yesterday to borrow $16m to fund the College of the Bahamas’ transformation into a university.
Mr Halkitis said the loan will be funded by the Caribbean Development Bank.
The Golden Isles MP said the loan represents the funding of phase one of the institution’s transformation into a university.
It is expected that COB will transition into a university by July 2015.
The House of Assembly is expected to debate the resolution when it meets on Monday.
Comments
B_I_D___ 9 years, 6 months ago
Gonna need all that 16M to offset the 400K per year (and then some) you are gonna pay the Director!!
realfreethinker 9 years, 6 months ago
Bam see another 16M gone poof
asiseeit 9 years, 6 months ago
Boy we have learned NOTHING. The only way to get out of a hole is to first stop digging it. The black hole of debt will be unbearable soon. I wonder if these government types run their personal money like they run the Bahamian peoples money?
TheMadHatter 9 years, 6 months ago
My poor grandchildren. When I think of the enormous debt they will be born with, I just can't imagine adding more to it. Apparently, Mr. Christie can.
TheMadHatter
ohdrap4 9 years, 6 months ago
you all remember when COB paid some foreign consultants fifty thousand for branding?
Man 50,000 for a logo and some plagiarized material from other universities.
Hire me, I can download some pdf from other universities and make a new strategic plan
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