The Desire For Change And Recovery

• Author: Derence A. Rolle Davis
• Pages: 182-194

Derence Rolle Davis

37.THE DESIRE FOR CHANGE

AND RECOVERY

Recovery from hurricane Dorian and the social and economic downturn in

the northern region of The Bahamas is further dampened by the far reaching and

the unforeseen reality of the COVID-19 Corona Virus pandemic.

In January 2020 the Government held a “conference” to raise funds to help

in the rebuilding efforts in Abaco and Grand Bahama following Hurricane

Dorian. The conference was sponsoredbytheUnitedNationsDevelopment

Programme (UNDP). The US-based P3 Group, Inc. pledged almost $1 billion to

be made available to the government.

This created quite a stir amongst the Bahamian populace. The controversy

arose due to some confusion as to whether the P3 Group’s “offer” was a loan or a

pledge. It was first introduced to the Bahamian public by the Government as a

pledge. Later, Chief Executive Officer, of the Group, Mr. Dee Brown, announced

to the press that it was a loan, which would be financed by the group and repaid

with interest. Disaster Recovery Authority Managing Director Katherine Forbes-

Smith said that the P3 Group made it clear from the start that it was a loan.

However, she said no decision has yet been made as to whether any portion of

the loan offer would be accepted.”53 The Government was nevertheless, highly

criticised over the issue.

Indeed, Chester Cooper, MP and shadow Minister of Finance, accused the

government of misleading Bahamians. “Having squandered tremendous goodwill,

the government appears so desperate for good news that it would seek to mislead the

Bahamian people,” Cooper said, as he called on the government to “be accountable

and provide a full account of the pledges and donations received for Dorian and for

Hurricane Irma that struck Ragged Island more than two years ago”.54

The Economic Effect

53 “Group Offers Billion Dollar Dorian Loan”, Rayne Morgan, Staff Writer The Nassau Guardian, January

15th, 2020.

54 “Cooper Calls for Answers on P3 Group’s Loan”, Rachel Scott, Staff Writer, The Nassau Guardian,

January 16th, 2020.

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