Here follows a statement by Prime Minister Perry Christie released August 22 regarding the completion of the stalled Baha Mar megaresort project:

It gives me great pleasure to announce that the Government of The Bahamas, and the Export-Import Bank of China, signed an agreement under which the Baha Mar resort will be completed, and sold to a world-class hotel and casino operator.

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Construction is set to resume on stalled mega-resort Baha Mar thanks to a new agreement between the Bahamas’ Government, China’s Export-Import Bank and “a world class hotel and casino operator”, announced Prime Minister Perry Christie last night.

Under the agreement, the $3.5 billion resort, which filed for Chapter 11 bankruptcy in June 2015, will be completed by China Construction America, funded by China’s Exim Bank and then sold. The Prime Minister declined to name the new buyer but said they were a “qualified world-class operator”.

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Prime Minister Perry Christie has suggested that the agreement signed with the Export-Import Bank of China means that the Baha Mar resort will be completed and operational before the end of the 2016/17 winter season.
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The event, led by Bishop Henry Fernandez, Sr. Pastor at the Faith Center in Florida, is a joint partnership between the Bahamas Ministry of Tourism (BMOT) and its Religious Tourism Department.

Religious tourism, which is also commonly referred to as faith tourism, targets people who travel individually or in groups to destinations for the purpose of pilgrimage, missionary or for leisure fellowship. It is estimated that some 40 million people in this growing tourism sector, spend approximately $4 billion dollars to visit places of worship and missions, and to discover Christian culture.

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August 19, 2016 (Central Bank of The Bahamas) – Issued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of Assembly, 22nd June, 2016, the Government of The Commonwealth of The Bahamas invites applications for Bahamas Government Registered Stock totaling B$30,000,000.00.

The Stock will be issued with a twenty year maturity (2036). Applications will be received by the Banking Department beginning at 9:30 a.m. on 19th August, 2016 and will close at 3:00 p.m. on [Thursday] 25th August, 2016.

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The Association of International Bank & Trust Companies (AIBT) in The Bahamas and the Bahamas Financial Services Board (BFSB) paid a courtesy call on Senator Allyson Maynard Gibson, Attorney General and Minister of Legal Affairs at the Ministry’s offices, August 17, 2016.

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August 18, 2016 (Sandals Resorts) – More than two dozen workers were on site at Sandals Royal Bahamian, jackhammering a pool deck larger than a football field, beginning work on a spa that will undergo a full transformation, starting work on beach villas and beginning an extensive plumbing overhaul.

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Sandals Royal Bahamian Spa Resort & Off Shore Island has closed its doors for a major refurbishment.

The 60-year-old resort is set to unveil a newly-renovated Windsor pool and restored Balmoral pool deck, as well as major upgrades to five of its restaurants, when it reopens in October.

The Windsor Ballroom is undergoing significant improvements to include updated audio-visual equipment and soft furnishings. Other repair work being undertaken extends to the resort’s Red Lane Spa and an overhaul of electrical systems in select areas. Several rooms and suites are also being restored.

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NASSAU, Bahamas, August 2016 (GLOBE NEWSWIRE) — The Bahamas Ministry of Tourism wishes to congratulate Shaunae Miller on her thrilling gold medal victory at the 2016 Olympics in Rio de Janeiro, Brazil Monday, August 15, 2016.

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The Caribbean Export Development Agency (Caribbean Export) is partnering with the World Bank Group to bring greater access to finance for Caribbean entrepreneurs and develop the region’s angel investment ecosystem.

The new programme, Link-Caribbean, aims to stimulate private investment into early-stage enterprises by providing funding products that help entrepreneurs raise capital. The programme will also develop a Regional Angel Investor Network (RAIN Caribbean) which will support the development of an early-stage investment community in the Caribbean.

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