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'Unify' Abaco's power grid to eliminate four voltages

The Inter-American Development Bank (IDB) has warned many Abaco residents will be without power “for a year or longer”, as it called for a “unified” grid to eliminate the four voltages used pre-Dorian.The multilateral lender, in documents accompanyin

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Bahamas in Fintech 'first for Caribbean'

Corporate loan rejection rates in The Bahamas are double those in other Caribbean countries, it has been revealed, resulting in financial technology (Fintech) being deployed to boost capital access. An Inter-American Development Bank (IDB) paper on

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IPO plan for $170m renewable vehicle

Bahamian investors will ultimately be given the opportunity to own the government’s $170m renewable energy financing vehicle through a public share offering, it has been revealed. An Inter-American Development Bank (IDB) report obtained by Tribune B

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'Business as usual' hurt poverty battle

A $9.6m initiative to fight Bahamian poverty was undermined by the public sector’s “strict bureaucratic policies” that treated the effort as “business as usual”. The Inter-American Development Bank (IDB) report on efforts to reform The Bahamas’ soci

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Bahamas tops hemisphere for quickest govt services

The Bahamas is among the hemisphere’s best performers for the speed at which government services are delivered, even though “three visits” are required to complete one-third of such transactions. These findings, contained in a newly-released Inter-A

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Society's poorest 60% consume less than wealthiest 10%

Bahamian per capita income has taken a decade to recover to pre-recession levels of 2007, with a just-released report arguing this masks “significant income inequality”.An Inter-American Development Bank (IDB) on proposed welfare system reforms that

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$5m waste of axed welfare reform plan

Poverty-stricken families and the Bahamian taxpayer have received almost no value from a near-$5.4m investment in welfare reform that was halted by the Minnis administration.

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$170m vehicle to 'surpass' Caribbean renewable lead

Bahamian investment will ultimately be sought in a $170m special purpose vehicle (SPV) that aims to “surpass” the government’s timeline for this nation to become “a Caribbean renewable leader”. An Inter-American Development Bank (IDB) report, which

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Energy industry eyed for $80m post-Dorian boost

The Bahamian energy sector is being targeted for an $80m post-Dorian investment that seeks to combine better storm-resilient infrastructure with increased renewable energy penetration. Documents seen by Tribune Business reveal that the Inter-America

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Private sector sees $1bn Dorian blow

The Bahamian economy’s productive sectors have suffered a combined $621m damages from Hurricane Dorian, a newly-released report has revealed, with tourism sustaining a half a billion dollar blow.

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Small business faces $180m 'finance gap'

The Bahamas faces a $180m “finance gap” in providing capital to small businesses, the Inter-American Development Bank (IDB) has revealed, as its project covers just 17 percent of demand. The multilateral lender, in documents detailing its $25m initi

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GB ships' waste processor in $3m expansion raise

A Freeport-based ships’ waste processor has been approved for a $3m Inter-American Development Bank (IDB) loan that will quadruple the size of the Caribbean’s first such facility.Clean Marine Group, which was founded in 2017, will also receive $1.5m

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IDB: Clock ticking over EU list threat

The Inter-American Development Bank (IDB) yesterday urged the government to “prioritise” escaping the Financial Action Task Force’s (FATF) adverse listing before Europe revives its own initiative. A policy brief produced by IDB officials, which was

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IDB: Bahamas economy has ‘turned corner’

The Inter-American Development Bank (IDB) yesterday gave the Government a further boost with its analysis that “the Bahamian economy has turned the corner”, while warning “major challenges” remain.

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$25m initiative to reverse 85% small firm credit rejection

A $25m Inter-American Development Bank (IDB) loan is aiming to reverse an 85 percent rejection rate on small business financing applications, it was revealed yesterday.

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Governance and regulatory woes hurt renewables

Poor governance and regulatory challenges have been blamed for the failure to better integrate renewable energy into The Bahamas electricity mix, with investors unsure where they stand.

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Underfunded public pensions bigger than national economy

The underfunding of The Bahamas’ public sector pensions “poses a serious long-term challenge” because these liabilities are collectively larger than this nation’s economy.The Inter-American Development Bank (IDB), in latest Caribbean Quarterly Bullet

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$20m loan to help young unemployed find work

IN a bid to reduce unemployment among people between the ages of 16 and 40, the government signed a $20m loan with the Inter-American Development Bank yesterday.

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Government signs deal to borrow $70m from IDB

THE government signed agreements for two investment loans worth $70m with the Inter-American Development Bank yesterday.The loans will fund an airport infrastructure programme in the Family Islands and a climate resilient coastal infrastructure and m

IDB: Bahamas ‘4x costlier’ over company registration

Registering a company in the Bahamas is “four times’ costlier” than in developed countries, with less than 3 per cent of government procedures able to be completed online.

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Citizen Security scheme on hold amid review

THE Citizen Security and Justice Programme, funded to the tune of $20m from the Inter-American Development Bank (IDB), has been put on hold as the Minnis administration reviews the project with a view toward tweaking what the former government had es

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IDB bans companies for fraud and corruption

THE Inter-American Development Bank has sanctioned ten Bahamian entities for fraudulent and collusive practices, barring those companies and individuals from participating in IDB-financed contracts as well as other linked international organisations.

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Violence in Bahamas at levels close to armed conflict zones

THE current level of deadly violence means the Bahamas almost qualifies as an armed conflict zone, a new report reveals.

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