Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Bahamas
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Development Bank (IADB)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-11-02
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: The Commonwealth of The Bahamas
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IADB website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-05-10
Skills for Current and Future Jobs in the Bahamas
IADB-BH-L1037

Project Description
This project will have the following specific objectives: (i) increase relevant skills and employability in productive jobs of programme beneficiaries; (ii) improve the effectiveness of the Public Employment Services; and (iii) enhance the capacity of the labour market´s intelligence systems. This will be achieved by: (i) the implementation of a pre-apprenticeships and apprenticeships program and establishment of sector skills councils to identify sector skills needs and articulate with training providers; (ii) strengthening the Department of Labour through modernization of its services, capacity building, and infrastructure improvements; and (iii) supporting the country’s labour market information system and increasing the labour sector’s data collection and forecasting capacity.
Investment Description
The amount of this specific investment program is estimated in US$50 million, of which US$25 million will be financed from the resources of Ordinary Capital (OC) of the IADB and US$25 million will be financed from the local counterpart resources of the Government of the Bahamas. The programme has a six-year disbursement period.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).
Bank Documents