BDB Cascarilla Development Program

Mr Dave Smith Managing Director

In continuing to fulfill its mandate to expand the Bahamian economy, The Bahamas Development Bank (BDB) in conjunction with our collaborative partner the Department of Cooperatives, held Town Hall meetings on September 27th and 28th,2018 in Crooked Island and Acklins, where there were thirty (30) and sixty (60) attendees respectively. BDB received an overwhelming amount of support from residents, as they showed a keen interest in advancing the industrialization of cascarilla. Many residents were enthused and grateful to the Bank for its concern in the development of their islands economies. In Acklins, fifty-five (55) persons did not hesitate to take advantage of such an opportunity, thus forming a steering committee. During the visit, BDB met with many harvesters to learn more about the cascarilla industry and the best methods to industrialize the industry. The Bahamas Development Bank recognizes the Island Administrator, Leonard Dames Jr, Acklins Island District Council Members especially Chief Councilor Virgil, Council Member Collie-Pratt, and Chief Councilor Daxon of Crooked Island for their logistical support during the visit.


Cascarilla bark in a bag.

BDB would like to recognize our other collaborative partners: Ministry of Agriculture, Department of Forestry, Bahamas Agriculture & Marine Science Institute (BAMSI), Bahamas Agricultural and Industrial Corporation (BAIC) and Inter-American Institute for Cooperative on Agriculture (IICA). We look forward to exploring opportunities for further collaborations to expand Family Island economies. Mr. Dave S. Smith, Managing Director, is elated in the progress of the Bank’s execution of its Sectoral Development Strategy. The Sectoral Development Strategy allocates approximately five (5) million dollars to Agriculture over the next two years and looks to fund sustainable projects.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.