Search results for : Loans

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News Article
March 19, 2024
Central Bank issues alert over consumer loan scam

NASSAU, BAHAMAS — The Central Bank is cautioning the public to avoid falling victim to fake internet ads and social media posts offering loans and other financial services purportedly from the Central Bank of The Bahamas. The regulator, in a notice on the consumer loan alert scam, warned that links associated with these posts should [...]

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News Article
February 08, 2024
WHOLLY UNACCEPTABLE: Opposition rejects delay in releasing details of $500 million loan

NASSAU, BAHAMAS — The Opposition continues to demand transparency and full disclosure regarding a recent $500 million Inter-American Development Bank (IDB)-backed loan, with its Shadow Finance Minister calling it "wholly unacceptable" to delay the release of those details. In mid-January, the government announced what it described as a "landmark transaction" and the country's largest credit-enha...

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News Article
February 07, 2024
Government to provide full disclosure on $500 million IDB backed loan says Halkitis

NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis said that the government will fully disclose all details regarding the $500 million commercial loan secured via an Inter-American Development Bank guarantee last month, as mandated by law, noting that these details will be included in the upcoming quarterly debt statistical report. The Opposition has continued to [...]

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News Article
August 06, 2009
Guaranteed Loan Program Suspended

The government's guaranteed loan program has been suspended indefinitely as the Ministry of Education seeks to collect $68.05 million in defaulted loans, Minister of Education Carl Bethel revealed yesterday.

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News Article
January 16, 2024
Opposition wants answers over $500 million loan

NASSAU, BAHAMAS — The Opposition is also voicing concern over the government's recent announcement regarding a $500 million commercial loan secured via an Inter-American Development Bank (IDB) guarantee.  Kwasi Thompson, the Opposition's Shadow Finance Minister, said that the Ministry of Finance's statement on the matter "fails any reasonable measure of transparency and clarity." "The Governmen...

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News Article
January 15, 2024
The Bahamas secures $500 million 10-year commercial loan via IDB guarantee

Well-known banker calls for more transparency on interest rates and guarantee conditions. NASSAU, BAHAMAS — The Bahamas has closed on a $500 million 10-year commercial loan leveraging a policy-based Inter-American Development Bank (IDB) guarantee the government has announced, with a well-known banker noting that its announcement lacked several vital details such as the interest rate [...]

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News Article
January 12, 2024
The Bahamas closes a $500m international loan benefitting from a first-loss IDB guarantee

The Commonwealth of The Bahamas successfully closed a $500 million 10-year international commercial loan benefitting from a first-loss Policy-Based Guarantee provided by the Inter-American Development Bank (“the IDB”, S&P [AAA/Stable]) and arranged by Banco Santander, S.A. (New York Branch) as Global Coordinator and Mandated Lead Arranger (“Santander”, S&P [A+/Stable]).

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News Article
October 17, 2023
South Riding Point owner secures $71 million US EXIM Bank loan for energy terminal's relaunch

NASSAU BAHAMAS — The Liwathon Group, a global leader in the energy sector, has announced that it has secured approval from the US Export-Import Bank of the United States (EXIM) for a loan guarantee exceeding $71.3 million, which will support the upcoming relaunch of the South Riding Point energy terminal on Grand Bahama. Commenting on [...]

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News Article
October 10, 2023
Pintard criticizes government over Saudi Loan and non-compliance with Procurement Act

NASSAU, BAHAMAS - Opposition leader Michael Pintard is slamming the Davis administration over recent comments regarding a $70 million Saudi loan and the government's delay in complying with the Procurement Act.  Pintard said in a statement, "Instead of doing the right thing and offering a heartfelt apology for them breaking the law yet again by [...]

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News Article
October 06, 2023
Halkitis: No laws broken with Saudi loan agreement

Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper broke no laws when he a signed a $70 million loan agreement with the Saudi Fund for Development (SFD) in Saudi Arabia last week, Minister of Economic Affairs Michael Halkitis said yesterday. Halkitis said that Cooper, at times, acts as the minister of finance. "We understand ... ...
The post Halki...

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