The Bahamas Development Bank (BDB) cut its losses by 43 per cent last year, the Deputy Prime Minister has said, as he urged entrepreneurs to "take another look" at the institution.
K Peter Turnquest, speaking at a press conference to highlight the BDB's 40th anniversary, said: "I want to invite the Bahamian public, particularly young enterprising Bahamians, to take another look at Bahamas Development Bank (BDB) as a source of financing and support."
Mr Turnquest and BDB chairman, Lynden Nairn, reaffirmed the BDB's commitment to develop micro, small and medium-sized enterprises (MSMEs) in The Bahamas.
The Government earlier this year committed some $25m towards the development of small businesses over the next five years, including the launch of a Small Business Development Centre.
Mr Turnquest said; "We want the majority of this investment to get into the hands of entrepreneurs to fuel and fund their dreams." He reassured Bahamians that the Government is committed to the BDB's success, and called on the bank to be even more nimble, dynamic and innovative with its services to MSMEs.
The BDB recently launched an apiary (bee-keeping) program in Grand Bahama, and is working closely with the Ministry of Agriculture and Marine Resources to build a robust poultry sector and support the agricultural industry more broadly.
Comments
TalRussell 6 years, 6 months ago
Noticeably Comrade KP placed heavy emphasis on the 43% cut in losses without mentioning the entire maxed out losses were projected at only $1.7 million - and not word how he committed borrowing fresh $25 million to hand out new programs... keep eye focused on which people wearing what colours t shirts does get their hands on new $25 million?
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