Prime Minister Gaston Browne
Prime Minister Gaston Browne says the Government is considering securing a new US$100 million concessional loan to accelerate affordable housing construction and renewable energy development.
Speaking on his weekend radio programme, Browne said the proposal follows significant reductions in Antigua and Barbuda’s public debt, which has fallen to approximately 61 percent of GDP.
He revealed that approximately US$40 million could be invested in renewable energy while the remaining funds would be directed toward expanding the country’s housing programme.
“We need thousands more homes,” Browne said.
Prime Minister Gaston Browne (middle) and other panel members on Browne and Browne Show (screenshot of Pointe Bradcasting Network)
The Prime Minister noted that Antigua and Barbuda has already reduced its outstanding Chinese loan portfolio from more than US$300 million to approximately US$120 million.
He also disclosed that officials from the U.S. International Development Finance Corporation are expected to visit Antigua later this month to discuss possible financing opportunities.
According to Browne, any new financing must be on highly concessional terms, similar to those previously secured from China and Saudi Arabia.
The Government is simultaneously moving ahead with a Chinese grant-funded programme that will construct 100 homes across Antigua and Barbuda.
Browne said expanding affordable housing remains one of his administration’s principal priorities.
While I applaud the government effort and push for better housing condition I wish they would finish one project before moving to tbe next.
The work at Oliver’s is a mess. National Housing needs to do better