NASSAU, Bahamas - Training, education and strengthening of the construction industry in The Bahamas has risen to higher levels due to a special technical assistance Grant from the IDB to the Bahamian Contractors' Association (BCA). On April 13, 2011, the signing of a contract between the Inter-American Development Bank (IDB) and the Bahamian Contractors' Association for the "Strengthening of the Bahamian Contractors' Association" project took place.
The Grant of $225,000 (IDB contribution of $150,000 and the BCA contribution of $75,000) was made available through the Multi-Lateral Investment Fund (MIF) that provides technical assistance grants for micro, small and medium sized enterprise development in Latin America and the Caribbean.
"This is a historic occasion not only for the construction industry," said Stephen Wrinkle, President of the BCA, but also for all stakeholders within the sector throughout The Bahamas. Wrinkle also stated that they are the first contractor association to receive an IDB grant and it speaks to the dedication, integrity and purpose that the BCA Council has demonstrated in successfully obtaining the Grant.
"The idea in the "Strengthening of the BCA Project" is to promote and support initiatives in transitioning the BCA to a modern, internationally recognized association, so that its members can derive the significant benefits of being a part of it. Also, the construction industry in all the Islands of The Bahamas can be supported in bringing their standards, qualifications and skill resources to levels which will allow Bahamian contractors to have greater access to Foreign Direct Investment (FDI) and other opportunities in The Bahamas, elsewhere in the region and in the international community," stated the IDB.
Currently totaling almost 400, the BCA membership will benefit from the IBD/BCA Strengthening Program. Membership within the BCA is currently comprised of 300 regular members and 100 associate members. Approximately 10% (25) are large or prime general contractors while the balance of the membership is made up of individual, small and medium building, sub or specialty contractors. There are local chapters in Grand Bahama and Abaco with the formation of local associations in Eleuthera and Great Exuma underway.
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