By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

THE government is mulling whether to create “sector specific funds” to finance areas such as renewable energy and food security as it bids to close a $2bn-plus infrastructure gap.

Dr Hubert Minnis, leading off the mid-year budget debate in the House of Assembly, said such funds could be part of a “fund of funds” structure created under the umbrella of the proposed sovereign wealth fund or National Infrastructure fund.

With a Growth Fund for the Family Islands, which would invest in sustainable tourism and the infrastructure to underpin it, also among the government’s goals, the prime minister said the structure is being worked out with help from the Inter-American Development Bank (IDB).

Dr Minnis, who also suggested that the US may be about to reduce The Bahamas’ “Level 3” COVID-19 “high risk” advisory to “Level 2” with a more moderate risk, said: “Given the economic climate and related fiscal constraints, the government is designing innovative mechanisms and emphasising public-private partnerships to mobilise substantial private sector capital, resources and expertise.”