The government's recent request for expressions of interest (EOI) in large-scale infrastructural projects has already generated considerable interest, according to the minister of state for investments.
Speaking recently with Guardian Business, Khaalis Rolle stated that the initial private sector response to the proposal, which involves forming public-private partnerships (PPP) between the government and private development firms, had been largely positive ahead of the September 30 EOI deadline.
"We've had quite a number of inquiries...wanting to know how to participate and what level of funding the government is looking for... The reality is that the government just doesn't have the capacity to meet its obligations in terms of infrastructural development," stated Rolle.
He argued that the country's antiquated infrastructure, particularly insubstantial airports, poses a significant risk to several high-profile developments in the Family Islands moving forward, including Cat Island, the Exumas and the Berry islands.
"We have 28 airports, and with all of the developments that are taking place throughout the Family Islands, we need to upgrade these airports. We have some massive developments taking place in Exuma, and the airport in Exuma, as it exists now, is completely inadequate.
"Investors are very concerned about what it's going to take to make their developments work. The government does not have the fiscal room to fund these things, so we're looking for ways to be creative," said Rolle.
While the current request of EOIs outlines infrastructural projects, including roadwork and airport upgrade projects in New Providence and certain Family Islands, valued at $175 million, Rolle
noted that other facilities were desperately needed.
"We don't have the luxury of waiting until the fiscal consolidation plan reaches its peak in terms of reducing the deficit. These things require immediate attention," claimed Rolle.
The government's list of requested PPP projects all include a minimum investment value of $15 million.
The government's plan to engage in PPPs has been well received from members of the private sector. Coalition for Responsible Taxation co-chair Gowon Bowe suggested last week that the PPPs could ironically force the government to adopt greater measures of fiscal responsibility through direct involvement with private sector companies.
The PPP model involves private investor financing, building and maintaining public infrastructure in exchange for an annual payment from the government or other assurances from the government, such as Crown land.
Rolle added that the government was still considering its reimbursement options, stating: "We're looking at the structure for reimbursement as we speak. It may be in government bonds; it may be a combination thereof."

Click here to read more at The Nassau Guardian