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Last Updated: Feb 13, 2017 - 1:45:37 AM |
Bahamas Minister of State for Finance the Hon. Michael Halkitis (center right) and Secretary General of the OAS His Excellency Luis Almagro (center left) shake hands after signing a Memorandum of Understanding, February 9, 2017 for a Small Business Development Center to be constructed on the campus of the University of The Bahamas. At far left is Chief of Technical Cooperation/OAS Executive Secretariat for Integral Development Kim Osborne, and at far right, His Excellency Elliston Rahming, Bahamas Ambassador to the United Nations in New York and Permanent Representative to the OAS. (BIS Photo/Patrick Hanna)
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NASSAU, The Bahamas – The Bahamas is the beneficiary of a Small Business Development Center (SBDC) as a result of a Memorandum of Understanding (MOU) signed Thursday between The Bahamas and the Organization of American States (OAS).
The Hon. Michael Halkitis, the Bahamas’ Minister of State for Finance, and His Excellency Luis Almagro, Secretary General of the OAS, signed the agreement during the 9th Inter-American Meeting of Ministers of Education at Atlantis, Paradise Island.
In attendance was His Excellency Elliston Rahming, Bahamas Ambassador to the United Nations in New York and Permanent Representative to the OAS, and Kim Osborne, Chief of the Technical Cooperation Section of the OAS Executive Secretariat for Integral Development.
Minister Halkitis said it was “an honour” to sign the MOU as the establishment of a SBDC in The Bahamas corresponds with the country’s National Development Plan Vision 2040 (Section 7.5) which speaks directly to the reduction of poverty and discrimination through social entrepreneurship by, “establishing potential models for development in civil society and social enterprises that are proven and can be scalable.”
He said The Bahamas is “proud” to be a part of the second phase of the Caribbean Small Business Development Center Project, which aims to assist CARICOM member states in strengthening their institutional framework and the national support programme for micro, small and medium-sized enterprises.
Bahamas Minister of State for Finance the Hon. Michael Halkitis (center) and Secretary General of the OAS His Excellency Luis Almagro (left) sign a Memorandum of Understanding for a Small Business Development Center in The Bahamas. At far right is His Excellency Elliston Rahming, Bahamas Ambassador to the United Nations in New York and Permanent Representative to the OAS. The signing ceremony took place February 9, 2017 during the 9th Inter-American Meeting of Ministers of Education at Atlantis, Paradise Island. (BIS Photo/Patrick Hanna)
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Mr. Halkitis remarked that establishment of the center will provide necessary technical assistance to enable quality and targeted support for micro, small and medium-sized businesses. The SBDC, he said, is the driving force for economic and social development within any economy.
Mr. Halkitis commented that he looked forward to the continued partnership between The Bahamas and the OAS.
The SBDC will be placed within the University of The Bahamas and will model similar centers in the United States.
Mr. Almagro said the OAS is “pleased” to sign the MOU for the establishment of a SBDC in The Bahamas as it offers a framework and support for the provision of technical assistance through one-on-one professional business advice and other specialty services.
He noted the success of the programme is derived from cooperative efforts of the public and private sectors and the economic community.
According to the Secretary General, the objective of the OAS is to foster development and expansion of opportunities for all.
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