The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Efforts to revive the Bahamian sponging industry are in a race against time to ensure all aspects of the $1.1m project can be delivered.

A progress report by the Inter-American Development Bank (IDB), which is financing the initiative, warned that "significant delays in decision-making" and weather-related obstacles had hindered momentum during the final six months of 2017.

"Project's performance has been less than anticipated," the IDB wrote. "Since the project's inception the association has been incorporated as The Bahamas Commercial Spongers Association; the project was launched in each community; market research was completed; business plan was developed; and board members have been trained.

"This project has faced several delays due to hurricanes, storm threats and other climatic conditions. Additionally, governmental changes which directly impacted BAIC's executive structure led to delays in the ability to make decisions, obtain approvals, hire consultants, and execute some activities.

"Today, the project's risk level is high. Due to the many delays there is a high probability that the remaining time will not be sufficient to complete all of the deliverables. BAIC has committed to continue this work, and believes that there is a low risk that 'the association will not be sustainable'," the IDB continued.

"These risks do not threaten the current execution of the project, but are noted as they continuously require some level of mitigation as work continue. BAIC has assured its commitment to the success of this project, and hence is determined to ensure that all resources are available to reach a level of success. The likelihood of this project still achieving its final objectives remains optimistic.

"Although there have been significant delays in decision making and contract signings, BAIC's newest chairman [Michael Foulkes[ is moving swiftly to now make approvals to ensure that activities can be expedited."

The project to revitalise the sponging industry is sponsored by the IDB and the Government. It is being managed by the Bahamas Agricultural and Industrial Corporation (BAIC) with support from IICA (Inter-American Institute for Co-operation on Agriculture); the Bahamas National Trust, the Department of Marine Resources and Bahamas Commercial Spongers Association (BCSA) Board members.

Further progress has been made since the IDB's report, which highlights the challenges with executing such a project in The Bahamas during and after a general election, and which covers multiple sites.

The $1.1m project seeks to increase income for spongers by providing them with a larger share of revenue from the industry. A major component of the project is the formation of the Bahamas Commercial Spongers Association (BCSA) to centralise the processing of the sponge, and help to link spongers with international markets directly.