Prime Minister, the Hon. Philip Davis signed a $200 million agreement with the African Export Import Bank (AFREXIM) for infrastructural works in the country.

Mr. Davis is attending the CARICOM Head Of Government meeting in Barbados where he spoke about the relationship between The Bahamas and the AFREXIM Bank. He said, “the relationship is growing from strength to strength. You see today we just signed a framework to allow us to guarantee up to $200 million for the purposes of infrastructural work so that in the event we have the need for further infrastructural work the facility is available.”

The Prime Minister thanked AFREXIM Bank Chairman and President, Dr. Benedict Oramah for his support of The Bahamas and the Caribbean.

Dr. Oramah responded in kind to the Prime Minister saying, “it was under his Chairmanship of CARICOM that I came here to speak for the first time two years ago to the summit and I’m very pleased to be here again and to be signing a $200 million guarantee framework to enable support…This is building on the SME facility provided to the Development Bank and the work their doing to support Grand Bahama…to construct a permanent exhibition facility in the island of Grand Bahama.”

A joint working group will identify the projects to be funded by the facility.