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Bahamas: Use of The Bahamas’ vast ocean resources — Bahamas Development Bank looks at the potential and offers grants for training

NASSAU, BAHAMAS — The recent Blue Economy Think Tank hosted by the Strategic Development and Initiatives Unit of the Bahamas Development Bank (BDB) attracted over 340 registered participants and 20 panelists from The Bahamas and abroad, who examined ways in which Bahamians can benefit from sustainable use of the country’s vast ocean resources.

The event’s overarching theme was “From Small Island State to Big Ocean Nation”, highlighting the fact that the nation’s islands are scattered over an enormous marine area. The Think Tank explored ways to make use of ocean resources in the areas of food, bio extractives, maritime industry and arts/culture and tourism.

As Managing Director Dave Smith pointed out, the country’s economic exclusion zone is 46 times the size of the entire Bahamas, which represents an enormous opportunity for revenue generation.

Minister of Agriculture and Marine Resources Michael Pintard echoed these sentiments in his keynote address, saying: “Sustainable use of ocean resources in tandem with economic development is simply a must.”

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