SFD and the Bahamas sign a loan agreement for North Eleuthera Airport development

SFD extends a development loan to the Bahamas: The Saudi Fund for Development (SFD) has entered into a USD 55 mn loan agreement with the Bahamas Airport Authority to fund the development of North Eleuthera Airport, according to a statement. No timeline has been disclosed for the project.

The game plan: The project will involve developing 4k sqm passenger terminals, boosting the airport’s operational capacity from 300k to 700k visitors annually, expanding service buildings, and integrating a backup power generator, the statement notes.

About North Eleuthera Airport: The North Eleuthera Airport — the largest airport in the Bahamas — is situated 80 km east of the Nassaul capital.

What they said: “Improving airport infrastructure and ensuring their strategic development is a critical component of our National Aviation Strategic Plan,” Deputy Director General of Tourism and Director of Aviation Kenneth Romer said in a statement. “In carrying out the transport of passengers and cargo, airlines require safe, efficient and affordable airport infrastructure to sustain their operations.”

The Bahamas are ramping up their aviation sector: Construction has begun on a new airport on Cat Island and 14 more airports are slated for development across the Bahamas, Prime Minister Philip Davis said in a statement.