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___ 10 years ago
Gonna need all that 16M to offset the 400K per year (and then some) you are gonna pay the Director!!
realfreethinker 10 years ago
Bam see another 16M gone poof
asiseeit 10 years 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 10 years 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 10 years 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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