By LYNAIRE MUNNINGS

Tribune Staff Reporter

lmunnings@tribunemedia.net

PRIME Minister Philip “Brave” Davis said his administration would draw $400m from the $1bn made available by the UK EXIM Bank to develop the Grand Bahama International Airport.

His comment came yesterday during a question-and-answer period at the Caribbean Council Bahamas Investment Promotional Event in London before the coronation of King Charles III.

“The UK EXIM Bank making available to us $1bn to draw down on is a step in the right direction for investments,” he revealed.

“We’re drawing down at least $400m for the redevelopment of the airport in Freeport, Grand Bahama, which will be a green airport.”

Last Month, Deputy Prime Minister Chester Cooper revealed that a $200m Grand Bahama International Airport would be developed, transforming the facility into an international “air cargo hub” for the Caribbean and Latin America.

He said the project’s first phase is slated for completion no later than the first quarter of 2025.

Yesterday, Mr Davis urged investors to invest in The Bahamas’ agriculture sector because food security is among his administration’s key priorities.  

He also said the government aims to grow and diversify the economy while actively seeking support from industrialised nations.

“Our fundamental goal is to make life better for the people of The Bahamas. While this ought to be a self-evident truth for every nation, it is sometimes obscured when we seek to attract foreign investment,” he said.

“We invite the money in, without doing our best to make sure that there are genuine contributions to national development. However, my government believes that the potential for private wealth creation, and investment in projects for the wider public benefit, can go hand in hand.”