Prime Minister’s EDP Dished Out Over $6M in Loans Since 2019; Additional $5M in 2025

Since its inception in 2019, the Prime Minister’s Entrepreneurial Development Programme (EDP) has given out $6M in loans.

So much so that PM Browne said it stands as a cornerstone of the government’s comprehensive strategy aimed at fostering and providing substantial support for the growth of micro and small businesses in Antigua and Barbuda.

Now entering its fifth year, Browne said this initiative has positively impacted a diverse array of local business owners across various sectors, including agriculture, technology, tourism, and the emerging blue and orange economies.

The EDP offers an appealing financial opportunity through low-interest loans, ranging from only 1 to 3 percent.

In addition to these loans, the programme also provides essential business support services, such as personalized coaching and bookkeeping assistance, ensuring that entrepreneurs are well-equipped to navigate the complexities of running a business.

Since its inception in 2019, the programme has successfully disbursed over $6 million in loans, significantly contributing to the region’s entrepreneurial landscape.

This initiative has proven to be not just a financial lifeline, but also an empowering venture that has enabled 137 entrepreneurs to realize their business aspirations and has provided training to more than 750 motivated individuals eager to enhance their entrepreneurial skills.

Meanwhile, Browne said that due to the anticipated surge in demand for resources from this valuable program, an additional $5 million would be allocated to the EDP.

This strategic move will elevate the total funding available to micro and small businesses to an encouraging $10 million by 2025.

Browne said the grant component of the EDP will also be expanded to a maximum of $10,000 for each approved applicant who submits a credible business plan for investment in the economy’s productive sectors.