The Tribune

THE Bahamas Development Bank is moving ahead with its programme to industrialise cascarilla in Acklins, Crooked Island and Samana Cay.

A town hall meeting will be held in Acklins on Friday at 6:30pm in the Spring Point Community Centre, according to a release issued yesterday.

"Participants will be invited to explore the potential of cascarilla and advised of the possible assistance the Bahamas Development Bank can offer," according to the statement.

"Residents of Acklins have expressed their eagerness to participate in the programme and their gratitude for the Bank's consideration for the development of the island's economy."

The cascarilla plant is used in the production of Campari and can be used in essential oils, medicine and perfumes. According to the bank, the Bahamas is exporting only the cascarilla bark to the United Kingdom, Italy, France, The United States of America and Germany.

The BDB initiative will seek to facilitate on-island value added production, with key objectives to: increase export; foster the sustainability of the cascarilla through organized propagation of the plant; facilitate at least two commercially viable cascarilla oil processing facilities; enable the creation of five new ancillary businesses; support expansion of Family Island economies; and support job creation.

The release stated: "The BDB continues to collaborate with various Bahamas Government ministries, statutory bodies and multilateral agencies to execute its principle functions which include: promotion of industrial, agricultural and commercial development via financing and investing in approved enterprises, encouraging citizens of The Bahamas to participate in business ownership, and promoting economic development of The Bahamas."