Thursday, January 26, 2017
Wednesday, February 1, 2017
The Inter-American Development Bank (IDB) has approved a $35 million loan designed to improve infrastructure at four airports on the Family Islands.
The loan will contribute to the archipelago’s regional and international integration through upgrades at the airports of Exuma, North Eleuthera, Marsh Harbour (pictured) and Treasure Cay.
The project will finance modernization and maintenance of the airports, including a wide range of aviation and infrastructure improvements such as visual aids, lighting, runway beacons, mobile airport equipment, parking platforms and passenger terminals.
It will also take into account adaptation to and mitigation of climate change in the construction work to be undertaken.
Air transport plays a key role in the economic integration of the Bahamas as it is the main way for tourists to reach the archipelago.
It also allows people living on the Family Islands to have access to goods and services offered only on New Providence.
The IDB loan is over 25 years, with a 5.5 year grace period and a LIBOR-based interest rate.