Investment spending, both public and private, plays an important role in getting the economy back on track and laying the foundation for future economic growth. Through Accelerate Bahamas, the government is committed to funding new public infrastructure projects including housing developments to promote Bahamian home ownership. It has also prioritized setting up a new public infrastructure investment fund and launching InvestBahamas—a new national investment promotion agency.
The government is updating its 20-year-old national investment framework by launching a new investment promotion agency: InvestBahamas. This agency will attract quality both domestic and international investment in sectors where there are opportunities for growth.
The government is committed to improving and advancing infrastructure throughout the country. Millions of dollars are being invested into such projects including $31 million toward renewable and resilient energy projects, $15.4 million to support Family Island airport repairs and rebuild initiatives and $5.2 million in funding for Comprehensive Schools in Inagua and East Grand Bahama. Approximately $3 million has been allocated for the Family Island Clean-Up Program along with $4 million going toward repairs and installations of proper drainage in low-lying areas throughout New Providence.
The budget website is inspired by a worldwide movement towards citizens budgets. Presented by the Ministry of Finance, it is a visual, interactive and less-technical version of the annual budget that promotes accessibility, inclusion, transparency and accountability.