Extending over a large area south-east of Florida (US), the Bahamas comprises 700 islands of which only 30 are inhabited. More than three-quarters of the population are concentrated on two islands. The economy is heavily dependent on tourism and financial services. Per capita income is relatively high but wealth is not evenly distributed, the less populated islands having a much lower standard of living.
As a high income country there is no provision under the 11th European Development Fund (EDF) for EU bilateral funds. However, as part of the group of ACP countries signatories of the Cotonou Agreement Bahamas is eligible to draw on EU support in the context of the Caribbean Investment Facility, the regional and the thematic programmes.