Bahamas Development Bank

Company:
Bahamas Development Bank
Address:
West Bay Street, Cable Beach
Town:
Nassau
Island:
Nassau / Paradise Island, Bahamas
Area:
Cable Beach
Phone
242-327-5780
Fax:
242-327-5047

Business Location
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Description

The Bahamas Development Bank was formed through an Act of Parliament in 1974 and became operational on July 21st, 1978. The office was first located on Bay Street at Rawson Square in Nassau.

It is a wholly owned Government institution with a mandate to:

Promote industrial, agricultural and commercial development

Facilitate participation in approved enterprises

Stimulate and enhance the economic deveopment of The Bahamas

Provide financing for economically viable projects that:

- create employment
- utilize Bahamian materials and resources
- reduce imports and increase exports
- introduce and increase exports
- promote prosperity for all Bahamians

The Bank's primary purpose therefore is to assist the economic development of The Bahamas by providing financial and technical assistance in the areas of agriculture, fisheries, tourism, manufacturing services and transportation industries. Small business development is also encouraged through the BTVI Graduate Programme, the Agricultural and Fisheries Lending Programme, the Conch Shell Jewelry and Handicraft Programme, the Junior Achievement (JA) Graduates Loan and the Transition Rehabilitative Loan Programme.

The policies of the Bank are determined by a Board of Directors, who are appointed by the Minister in accordance with The Bahamas Development Bank Act. The Board normally meets once per month but may convene additional meetings whenever necessary.

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