1. Home
  2. »
  3. News
  4. »
  5. Bahamas will promote the blue economy with IDB support
Bahamas will promote the blue economy with IDB support
04/03/2024 Since 4 months

The Bahamas will receive financial support from the Inter-American Development Bank (IDB) through a Conditional Credit Line for Investment Projects (CCLIP) to promote the country’s sustainable development by leveraging micro, small, and medium-sized enterprises (MSMEs) growth in the blue economy.

The Local Sustainable Development in the Blue Economy Program will facilitate sustainable tourism, expand research in agriculture and marine sciences, and strengthen marine protected areas in the Family Islands region. The Program was structured around three components:

1. Boost MSMEs efficiency and growth through the adoption of innovations and technology; in particular, those related to sustainable tourism.

2. Promote the development of specialized human capital in the blue economy in coordination with the Bahamas Agriculture and Marine Science Institute.

3. Finance the implementation and improvement of management plans for existing marine protected areas.