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IDB approves $23.5 million to improve waste management in the Bahamas

The Inter-American Development Bank today announced the approval of a $23.5 million loan to the Bahamas to improve solid waste management, strengthen environmental protection, and enhance health standards.

The resources will help finance priority investments for disposal facilities in New Providence and 10 of the family islands: Abaco, Andros, Bimini, Cat Island, Eleuthera, Great Exuma, Grand Bahama, Inagua, Long Island and San Salvador.

In addition, a hazardous waste disposal facility will be constructed, and the Department of Environmental Health Services of the Ministry of Consumers Welfare and Aviation will be strengthened.

An education component of the project will increase the awareness of the general public on the importance of environmental and health issues related to waste management.

The total cost of the program is $33.5 million.

The IDB loan is for a 20-year term, with a 3 and 2 year grace period, at the variable interest rate, now 6.98 percent.

Local counterpart funds total $10.5 million

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