The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A top Caribbean banker has warned the Bahamas to ensure its infrastructure remains “first class” for its tourism industry to remain competitive.

Rik Parkhill, CIBC First Caribbean International Bank’s chief executive, said the bank was assessing public-private partnership (PPP) financing proposals from the Bahamian government.

He told Tribune Business that PPPs could an important role in that infrastructure development, suggesting CIBC was the leading infrastructure financier in the region. The bank held its third annual infrastructure conference, in Jamaica last week, emphasising the importance of PPP arrangements to national development.

“Among all of the commercial banks operating in the Caribbean, we’re probably the leading infrastructure financier,” Mr Parkhill said.

“Whether you’re looking at airports or cruise ship terminals, we’re involved in the financing of most of them. We’re happy to partner with governments around the region.”

Mr Parkhill cited the bank’s involvement with the Princess Margaret Critical Care Block, via a $35 million loan for equipment, furniture and management information systems.

“We get lots of proposals from governments,” he added. “We advise them on what can be financed and what can’t, and what are the structures that might increase the likelihood of it being financed,” said Mr Parkhill.

“We are happy to work with sponsors and advisors all over the region.  In terms of the initiatives of the government of the Bahamas , we are in the process of looking at some and we‘re happy to look at others as well.”