READOUT Prime Minister Philip Edward Davis Meets with IDB President Ilan Goldfajn in New York

New, York: Yesterday, on the sidelines of the Clinton Global Initiative in New York, Prime Minister Philip Edward Davis engaged in a critical discussion with the President of the Inter-American Development Bank (IDB), Mr. Ilan Goldfajn. The two leaders delved deeply into The Bahamas’ current loan portfolio, ensuring that the nation’s financial strategies align with its broader developmental objectives.

Central to their conversation was the Micro Solar Grids project, a collaborative endeavor between The Bahamas and the IDB, aiming to pave the way for sustainable energy solutions in the country. Additionally, they discussed the significance of The Bahamas’ Carbon Credit initiative for Climate Financing, highlighting its potential role in setting The Bahamas as a regional beacon for climate action and innovative sustainability practices.

President Goldfajn took the opportunity to reaffirm the IDB’s commitment to The Bahamas, particularly concerning climate change management. Emphasizing this commitment, the leaders discussed introducing a policy-based guarantee designed to facilitate a debt-for-nature exchange, a strategy set to redirect vital resources towards environmental conservation efforts. Prime Minister Davis expressed optimism, noting, “Such collaborations with the IDB underscore our shared vision for a sustainable and prosperous future for The Bahamas.”