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From:TheBahamasWeekly.com Bahamas Information Services Updates
After three decades of renting the iconic pink building on the Cable Beach strip, The Bahamas Development Bank is moving. The Bank has contracted McBrady’s enterprises to develop its newly purchased premises on Robinson Road. The building architecture, designed by The Outside Office Design group, will be functional, bright, and modern, in keeping with The BDB’s new brand that launched in July of this year. The move is the next step in revitalization for the 40-year-old institution. Over the last 2 years, BDB has worked to address numerous legacy challenges, improved balance sheet performance, and adopted an ambitious Strategic Plan that focuses on Sustainable Development Goal Accomplishment and support for The National Development Plan. It is envisioned that the new central location will increase accessibility to potential clients while providing space for the growing complement of professional staff. Attracting top talent has been a priority for the Bank in recent months to rapidly scale up capacity for new, progressive initiatives designed to stimulate industrial development in key sectors across the Green, Orange, and Blue Economies. Now that most of the historical problems that plagued The Bank have been resolved, BDB is focused on building its performing portfolio with new loans. The Bank is building a Trade Desk concentrated on import/export financing, and an Agricultural Financing Desk tasked with designing customized lending products that take into account farmers’ unique needs. The Bank has developed specialized offerings such as the MSME Digital Transformation Loan Program, which will help businesses adapt to the new normal of a post COVID environment. The Bank is also investing in data infrastructure to improve internal processes, improve market surveillance, and track development performance.
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