The Honorable Michael Halkitis, Minister of Economic Affairs of The Bahamas, on April 17, 2024, signed two agreements with the Development Bank of Latin America (CAF) to move forward The Bahamas’ full membership in the organization. The signing of the Immunities Exceptions and Privileges Agreement and Share Subscription Agreement are the penultimate steps to membership
before the Government formally joins the institution.
“CAF’s commitment to improving quality of life strategically aligns with the government of The Bahamas’ goals to achieve the development objectives of the country, through the application of key social and economic activities and programmes,” said Minister Halkitis upon signing the agreements.
“Food Security, Climate Change, Water and Energy, Digital Transformation, and Transportation are all areas that figure importantly in the government’s development policy initiatives and strategy.”
Membership in CAF provides The Bahamas new opportunities to improve effectively the quality of life for all Bahamians. It underscores The Bahamas’ commitment to development, environmental protection and preparing for the growing impacts of climate change.
“Undoubtedly, this relationship will enhance the socio-economic and environmental development of The Bahamas,” summarized Halkitis. “The Bahamas looks forward to joining the other 21 member states in this organization with a more than 50-year history of making an impact for people in the region.”
