Bahamas picks up a pair of IDB facilities

Bahamas picks up a pair of IDB facilities

Loans Debt Bahamas

Bahamas has received two loans amounting to $130m from the IDB, according to a statement from the multilateral lender.

A 25-year $100m loan will be used to build financial resilience against natural disasters while a 24-year $30m loan will promote IT solutions in the island's public sector.

In the past 50 years, 18 hurricanes have hit Bahamas. The loan will help provide support to five key policy areas: disaster risk, risk identification, risk reduction, preparation for emergency and response and financial protection and risk transfer.

Government IT initiatives will ease administrative procedures, increase the use of information and communications technology and increase transparency in government operations.