Bahamas – 10th Anniversary of Caribbean Development Bank 1980 FM Proof Silver 10 Dollars 38.61mm (30.28 grams) 0.500 Silver (0.4868 oz. ASW) Reference: KM# 84, Schön# 58 Certification: NGC PF 69 ULTRA CAMEO 2845075-005 COMMONWEALTH OF THE BAHAMAS FORWARD UPWARD ONWARD TOGETHER, Coat of arms and motto of the Bahamas. · 1970 · TENTH · ANNIVERSARY · 1980 · CARRIBEAN DEVELOPMENT BANK 10 DOLLARS, Globe and flag of the Bahamas.
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The Caribbean Development Bank (CDB) is a financial institution that helps Caribbean nations finance social and economic programs in its member countries. CDB was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970.[1] The permanent headquarters of the bank is located at Wildey, St. Michael, Barbados; adjacent to the campus of the Samuel Jackman Prescod Polytechnic. There are no other offices of the bank. The headquarters serves all of the regional borrowing member countries with staff recruited from its members.
CDB’s membership of 27 countries consists of 19 regional borrowing members, three regional non-borrowing members and five members from outside the Region.
As of December 31, 2014, CDB recorded total assets of US$2.61 billion (this includes US$1.38 billion of ordinary Capital resources and US$1.23 billion of Special Funds Resources). CDB has an “Aa1” with stable outlook rating with Moody’s Rating Agency, and an “AA/A-1+” with stable outlook rating with Standard and Poor’s Rating Agency. In 2014, the Bank approved loans and grants of US$269.5 million.
At the end of 2014, the bank had total equity of US$822 million.
The Bahamas, officially the Commonwealth of the Bahamas, is an archipelagic state of the Lucayan Archipelago consisting of more than 700 islands, cays, and islets in the Atlantic Ocean; north of Cuba and Hispaniola (Haiti and the Dominican Republic); northwest of the Turks and Caicos Islands; southeast of the US state of Florida and east of the Florida Keys. Its capital is Nassau on the island of New Providence. The designation of “The Bahamas” can refer to either the country or the larger island chain that it shares with the Turks and Caicos Islands. As stated in the mandate/manifesto of the Royal Bahamas Defence Force, the Bahamas territory encompasses 470,000 km2 (180,000 sq mi) of ocean space.
The Bahamas were the site of Columbus’ first landfall in the New World in 1492. At that time, the islands were inhabited by the Lucayan, a branch of the Arawakan-speaking Taino people. Although the Spanish never colonised the Bahamas, they shipped the native Lucayans to slavery in Hispaniola. The islands were mostly deserted from 1513 until 1648, when English colonists from Bermuda settled on the island of Eleuthera.
The Bahamas became a British Crown colony in 1718, when the British clamped down on piracy. After the American War of Independence, the Crown resettled thousands of American Loyalists in the Bahamas; they brought their slaves with them and established plantations on land grants. Africans constituted the majority of the population from this period. The Bahamas became a haven for freed African slaves: the Royal Navy resettled Africans here liberated from illegal slave ships; American slaves and Seminoles escaped here from Florida; and the government freed American slaves carried on United States domestic ships that had reached the Bahamas due to weather. Slavery in the Bahamas was abolished in 1834. Today the descendants of slaves and free Africans make up nearly 90% of the population; issues related to the slavery years are part of society.
The Bahamas became an independent Commonwealth realm in 1973, retaining Queen Elizabeth II as its monarch. In terms of gross domestic product per capita, the Bahamas is one of the richest countries in the Americas (following the United States and Canada). Its economy is based on tourism and finance.
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