Disaster relief assistance from corporate and private citizens is expected to go a long way in restoring The Bahamas, as government officials strongly focus their attention on reshuffling a number of projects planned for this fiscal year.
While a definitive price tag has not yet been attached to the damage Hurricane Frances left in The Bahamas, the government is predicting that the sum total is ﾓlikely to be enormous,ﾒ a situation that may place a number of capital projects on the backburner.
ﾓIn analyzing this, you have to look at the net effect, because while on one hand there is going to be some direct unforeseen costs to the government to address this, we will probably just have to reorder priorities and not do some things that we had planned to do and thus use resources for that,ﾒ Minister of State for Finance, James Smith explained to the Bahama Journal Thursday.
ﾓBut until we reach that stage where we are reordering, itﾴs very difficult to say what the impact is going to be on the national budget. But we do expect that there will be some adverse fallout.ﾒ
A number of hospitals and clinics throughout the Bahamas were scheduled to be upgraded this fiscal year, as well as various Family Island airports.
But these renovations may have to wait just a little while longer, at least until the government is certain that the country is well on its way to recovering.
The government, meanwhile, has reactivated the Disaster Relief and Recovery Fund at the Royal Bank of Canada.
The Fund was initiated in 1992, following Hurricane Andrew that blasted a path of chaos throughout the northwestern Bahamas, the southern Florida peninsula and south-central Louisiana.
In its wake, Andrew destroyed or damaged more than 126,000 homes in South Florida, left millions homeless and a $25 billion natural disaster bill.
In 2001, following Hurricane Michelle, local insurance companies alone paid out well over $100 million in total claims.
But Hurricane Frances has left The Bahamas grappling to recover from much more.
ﾓWhatever was done in the past, this will be on a much larger scale, considering the wide scope of damage,ﾒ Minister Smith said.
Since the government reactivated the Fund Wednesday, corporate and private donors have been making contributions.
One Royal Bank Branch reported receiving two anonymous donations Thursday morning.
Fidelity Group of Companies recently donated $25,000 to the initiative and Imperial Life announced Thursday that it was donating $50,000 to hurricane relief efforts.
But millions of dollars in assistance are still needed.
Trade and Industry Minister Leslie Miller recently expressed his dismay that some Bahamian private companies have yet to step to the plate in offering monetary assistance.
But Minister Smith, who is overseeing the Disaster Relief Fund, is optimistic that donations will increase in the coming days.
ﾓIﾴm hopeful that given what we are dealing with, the public will be quite generous because the Fund would be used to restructure and restore, given the damage that Bahamians have suffered,ﾒ he said.
Government officials have stressed that the Fundﾴs proceeds will not be used to repair or reinstate any of the countryﾴs public infrastructure or capital works like roads and bridges.
The general public, private businesses, private trusts or other entities wishing to contribute funds can make a deposit at any commercial bank in the country.
Entities outside The Bahamas can make donations at J.P Morgan, Chase, New York, #4 Chase Metrotech Centre, 7th Floor, Brooklyn, New York, 11245, ABA 021000021.
Information will also be posted on the governmentﾴs website, at embassies and tourism offices abroad to get the maximum amount of collection of funds needed.
Prime Minister Perry Christie has urged residents and investors to contribute liberally to the Fund.
Macushla N. Pinder, The Bahama Journal
