Business, Financials
December 18, 2011

IDB loan to target air transportation in Bahamas

NASSAU, Bahamas (AP) — The Bahamas is receiving a US$50 million loan to improve its air transportation system in a programme expected to increase flights within the island chain and modernise its airports.

The Inter-American Development Bank says its loan also will be used to create an independent body to investigate aviation incidents and accidents.

Nearly $48 million will be used for aviation reforms, while the remainder will be used for technical support and analysis of transportation issues between the smaller islands.

Five domestic airlines and 17 international ones currently serve the Bahamas.

The loan was announced this week.

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