DEPUTY Prime Minister Chester Cooper announced yesterday that the Saudi Fund for Development (SFD) has agreed to reallocate funding originally earmarked for the George Town and North Eleuthera airports to the Grand Bahama International Airport, a move he described as “progress” for the island’s economic revitalisation.

The extent of the SFD’s funding for the airport was unclear up to press time.

Speaking at the Exuma Business Outlook, Mr Cooper said the decision followed negotiations he led with Saudi officials for airport projects across the Family Islands. He said while George Town and North Eleuthera airports have since been fully funded by other means, the freed-up Saudi financing will now go toward Grand Bahama’s airport redevelopment, a project seen as central to the island’s broader recovery from hurricanes and economic stagnation.

His announcement comes a month after he revealed that the long-promised redevelopment of the Grand Bahama International Airport had been halted because the private partners tapped to lead the $200m project failed to secure financing.

The Grand Bahama airport project has been a government priority following Hurricane Dorian’s destruction in 2019, which left the island’s main gateway inoperable for months and forced the use of temporary terminals. The Davis administration pledged a new, hurricane-resilient international airport as a cornerstone of Grand Bahama’s tourism and logistics rebound. The government bought the facility in April 2021. Demolition was supposed to start in 2023, then again in February this year when Mr Cooper assured it would happen “within 30 days.” Neither pledge was met.

Mr Cooper also announced that the Beaches Exuma project, previously valued at $100m, is now projected to exceed $150m, with final agreements expected to be executed in mid-November. Mr Cooper said the project will revive the former Sandals Emerald Bay site, expanding year-round employment, marketing reach, and inter- national visibility for the island.

The timeline for the project has shifted several times. In August 2024, Mr Cooper estimated a six to eight-month construction phase for the resort’s transformation into a Beaches property. However, Sandals representatives later indicated that construction could take up to 15 months. The Free National Movement recently criticised the government for its “silence” on the timeline for the resort’s re-opening.

Beyond tourism, Mr Cooper said the government is working on new housing subdivisions in Moss Town and George Town, and has begun discussions with an international city-planning firm to design a new town centre plan for George Town, including the relocation of the port to free up waterfront space for civic and commercial redevelopment. He said Exuma will eventually need double or triple its current housing stock to sustain inclusive growth.

He also confirmed plans for new schools, a multi-purpose youth centre, and a new government services complex to make public services more accessible. On healthcare, he acknowledged delays in hospital upgrades but said additional doctors and nurses have been recruited from Ghana, with three recently stationed in Exuma.