The Tribune

The Bahamas Development Bank's (BDB) newly-appointed managing director, Dave S Smith, has treated his predecessors to lunch to celebrate the institution's 40th anniversary.

The event was also attended by K Peter Turnquest, deputy prime minister and minister of finance, who discussed how the BDB can further boost economic development throughout The Bahamas.

It gave the former managing directors an opportunity to discuss the BDB's challenges over the years, and reminisce successful business loans that have aided development of the Bahamian economy in various industries.

Benjamin Rahming shared one of his memories about how the BDB had impacted tourism through the financing of resorts on New Providence and the Family Islands. The BDB also provided funds to fisherman to purchase boats and other equipment, resulting in increased revenue and employment.

Anthony Woodside added that the BDB has impacted transportation through financing of the mail boats. The services provided by mail boats remain critical in assisting residents throughout The Bahamas, supporting inter-island transit, goods, materials and passengers.

Mr Smith acknowledged the importance of listening to his predecessors, as he executes the BDB's strategic plan. Since 1974, the Bank has been the Government's catalyst for stimulating expansion and diversification of micro, small and medium-sized enterprises (MSMEs), thereby creating employment and increasing opportunities for exports.