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BDB to focus on small business development

Speaking at a press conference observing the 40th Anniversary of The Bahamas Development Bank, Deputy Prime Minister and Minister of Finance Peter Turnquest said Bahamians should look to the bank for financing and support. 

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TheBahamasInvestor.com
Tuesday, May 1, 2018
Tuesday, May 1, 2018

BDB LOGOSpeaking at a press conference observing the 40th Anniversary of The Bahamas Development Bank (BDB), Deputy Prime Minister and Minister of Finance Peter Turnquest said Bahamians should look to the bank for financing and support.

“I want to invite the Bahamian public, particularly young enterprising Bahamians, to take another look at Bahamas Development Bank (BDB),” he said.

Turnquest, and chairman of the BDB Lynden Nairn, on April 26, announced the bank’s commitment at this juncture to develop micro, small and medium-sized enterprises (MSMEs) in The Bahamas.


In January, the government committed an unprecedented $25 million towards the development of small businesses over the next five years, including the launch of a Small Business Development Centre.

Minister Turnquest said: “We want the majority of this investment to get into the hands of entrepreneurs to fuel and fund their dreams.”

The Minister of Finance brought reassurance to Bahamians that the government is committed to the bank’s success and he called on BDB to be even more nimble, dynamic and innovative with its business and development support services to MSMEs, and responsive to the changing demands of the market.

Deputy Prime Minister and Minister of Finance Peter Turnquest has said that recent gross domestic product figures released by the Department of Statistics show that there is "concrete signs of economic recovery" in The Bahamas.

The Central Bank of The Bahamas has released its 2017 Annual Report, which contains a summary of the bank’s operations over the year, an analysis of regulatory developments affecting the financial sector and a review of monetary policy, as well as payment systems developments. Download the report here.

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