The Bahamas Development Bank, a wholly-owned government institution, was established in 1974 by an Act of Parliament.
The Bank's fundamental purpose is to assist with the industrial growth of the Bahamas by providing financial assistance in the areas of agriculture, fisheries, tourism, manufacturing, services and transportation industries.
The main branch is presently located on West Bay Street, Cable Beach and has a staff compliment of 38. It is the Government's primary provider for promoting industrial, agricultural and commercial development; facilitating participation in approved enterprises, stimulating and enhancing the economic development of the Bahamas. The Bank serves a wide and diverse population, its clientele being drawn from all levels of the Bahamian society throughout the archipelago. The bank is mandated to provide financing for economically viable projects that:
• Create employment
• Utilize Bahamian materials and resources
• Reduce imports and increase exports
• Introduce new technology and skills
• Promote prosperity for all Bahamians.