News Americas, New York, NY, September 16, 2024: The Bahamas government has celebrated the signing of a $55 million deal with the Saudi Development Fund, which they say will significantly improve the socio-economic development of Eleuthera, one of the country’s family islands and one of the home of the award-winning Bahamas. prices. -roots rocker, Lenny Kravitz.
At the signing ceremony, Prime Minister Phillip Davis hailed the investment as a transformative step for the island, particularly through the long-awaited upgrade of the North Eleuthera International Airport. “This partnership with the Saudi Development Fund marks a turning point for Eleuthera and its people,” said Davis. “For years, there has been talk about improving the airport, and today we are moving from talk to action.”
The $55 million investment from Saudi Arabia will unlock Eleuthera’s potential, improving infrastructure, increasing tourism and creating new job opportunities. “By increasing the airport’s capacity to handle more visitors, we are directly supporting the tourism sector, which is at the heart of Eleuthera’s economy,” added Davis. “This investment will help bring more international flights, increase connectivity to the rest of The Bahamas and open new avenues for local entrepreneurs.”
The contribution of the Saudi Development Funds to Eleuthera comes with a favorable interest rate of only 2.5 percent, ensuring the sustainability and financial sustainability of the project. For Eleuthera residents, the airport upgrade represents progress and promises significant improvements in daily life, including better travel options, increased economic activity and expanded employment prospects.
Prime Minister Davis emphasized that the project is part of a broader national plan to modernize infrastructure throughout the Family Islands. Construction has already begun on a new airport at Cat Island, with plans for 14 additional airport developments around the country. “This is about building for today and tomorrow,” Davis noted, “ensuring that our islands have the infrastructure to support growth and prosperity for generations to come.”
However, with rapid development comes challenges. Davis acknowledged that increased economic activity and population growth in Eleuthera has put pressure on utilities, especially electric and water utilities. “No Bahamian should live without reliable water and electricity, not in 2024,” he said, addressing recent concerns about power and water shortages.
To address the issue, Bahamas Power and Light (BPL) has commissioned two long-overdue generators, each capable of producing 2.5 megawatts, with one already operational. The second is expected to be operational by the end of the week, nearly doubling Harbor Island’s power generation capacity and significantly reducing the likelihood of load shedding. Davis vowed that by the end of September, Eleuthera would no longer experience power shortages.
In addition, over $7 million in water infrastructure capital work is underway to address Eleuthera’s growing needs. “This government is not interested in quick fixes or political stunts,” Davis said. “We are committed to providing long-term solutions.”
The partnership with the Saudi Development Fund marks a key milestone in Eleuthera’s growth, setting the stage for sustainable progress and ensuring that Eleuthera residents can fully benefit from the island’s rapid development.
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