The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Deputy Prime Minister is urging Bahamians to exploit the $30m that will become available for farming, fisheries and other ventures post-June via the Bahamas Development Bank’s recapitalisation.

Chester Cooper, also minister of tourism, investments and aviation, told his Exuma constituents during a recent series of Town Hall meetings that the financing, which is understood to be coming from the Africa Export-Import Bank, will be accessible once the new 2024-2025 fiscal year starts on July 1.

“We’re about to get $30m of new money in the Bahamas Development Bank, after the budget period, at the end of June,” he explained. “That money will be accessible, particularly for agriculture and fisheries and other businesses. So I invite you to take advantage of the various opportunities that might be available.”

While in Black Point, Mr Cooper said the Government has “the ducks lined up” for its airport renovations. He added that funding will become available once the Budget is completed, and he expects the project to break ground by the end of 2024.

He said: “You’ve heard about this airport for a while. But we have the ducks lined up. We have the designs.. and by July 1, when the Budget session is completed, we will have access to the money.

“Now, I want to emphasise that this isn’t going to start tomorrow. It’s not going to start July 1, because there’s a process. We have to go to RFP (request for proposal), and then we have to select the right bidder. It has to go through an approval process. But I fully expect that we should be able to get a contract signed, and hopefully break ground on this airport before the end of the year.”

Mr Cooper said the Black Point is located in an area primed for expansion as there is land available and the Government is considering modellinf the airport in Staniel Cay after the one in Ragged Island. He added: “We’re building a new terminal building at Black Point airport. Farmer’s Cay and Staniel Cay, we’re looking to see how we can build new terminals as well.

“For Farmers Cay we’re looking at the Ragged Island model, and for Staniel Cay we’re looking at a smaller version FBO (fixed base operation) type style for Staniel Cay that we will roll out soon. And Black Point will be first. We believe that this is an area that can easily expand. The land is available and we anticipate that there’s going to be 6,000 feet.”

The new airport in Black Point will be outfitted with Customs and Immigration facilities, which Mr Cooper explained will eliminate the need to stop in other islands prior to landing in the Exuma Cays to clear these protocols, and will attract more visitors.

He predicted that the new airport and infrastructure upgrades will cause rapid growth that will transform the Exuma Cays over the next five years. Mr Cooper said: “Port entry means that you will have Immigration and Customs right here in Black Point.

“That does not now exist in Staniel Cay or Farmers Cay. If you see Customs and Immigration, they are there for the day or they’ve been asked to clear some things. But normally when flights are coming into the cays they land in Nassau, or they land in Andros. They clear Customs and then they come here.

“We are eliminating that step. So now someone can get into their jet in New York and fly directly here to Black Point. I want you to understand what this airport is going to mean, not just for Black Point but for all of the cays. This is going to be transformational.

“This is going to open opportunities to the cays that you have never seen before. This is going to cause a lot of new people to come to the cays. New foreigners and new Bahamians, too. This area is going to grow more rapidly than you have ever seen. That’s my forecast. And in five years time this place is going to be really different from what you see right now.”

For the dock in Black Point, Mr Cooper said he is “committed” to building it but has not secured the $7m needed for its construction.

He added: “We are committed to building the dock. We have the designs..what we do not have yet is money. So I’m not going to leave here today having you believe that this dock is going to start tomorrow. But we are committed to ensuring it gets done.

“But one thing I will tell you is the airport is going to get done. It’s going to start this year for absolute sure. We’re going to consistently be working on finding the money for the dock but, right now, we do not have the money for the dock. Seven million dollars is what we need to find.”