Finance Minister: Natl. Investment Fund Resources Used for Public Investment

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NASSAU , BAHAMAS – The House of Assembly resumed on Wednesday morning, with much anticipation surrounding the National Investment Fund.

Finance Minister Michael Halkitis addressed concerns centered on the management of money tied to the fund.

The Free National Movement has been vocally demanding answers, with its leader, Michael Pintard, saying he has sought legal advice on whether the government’s handling of the National Investment Fund breached criminal, statutory, or constitutional law.

The controversy stems from the government’s financial reports showing the fund’s balance dropped from $265.3 million at the end of December 2025 to just $200,000 by the end of March.

In the House of Assembly Wednesday morning, Halkitis acknowledged that questions have been raised about how and why NIF resources were used.

He reminded the House that back on March 10, 2025, parliamentarians authorized the borrowing of up to $300 million and approved the deposit of the proceeds into the National Investment Fund to support infrastructure and national development.

The Davis administration has said $310.9 million in fund proceeds has been used for public infrastructure and strategic national assets.

Michael Halkitis – Minister of Finance
“Buildings and roads represented the largest category of investment, accounting for $210.6 million of the total. These investments supported the construction, renovation, acquisition, and modernization of critical public assets, including roads, a new court complex, and an administrative complex.”

Michael Halkitis – Minister of Finance
“Aviation infrastructure investments totalled $100.3 million of the total, supporting major airport development projects across the Family Islands and strengthening air connectivity. Funding covered airport construction, runway and terminal improvements, land acquisition, engineering, project management, surveying, and related professional services.”

One of the key concerns raised is the board that governs the fund not meeting despite funds being transferred out.

But Halkitis insists future decisions will be taken within a clear and settled framework, with defined responsibilities, effective oversight, and the reporting required by law.

Michael Halkitis – Minister of Finance
“We recognize that there’s some administrative things that need to be complete, and so we look forward to answering all the questions so the public can have the benefit of it.”

Michael Pintard – Leader, Opposition
“So, so rather than be distracted, I believe, by the minister speaking about all of the projects that they are working on, we want to first start this discussion with where is the money, account for the $700 million, which account is it on?”