Prime Minister Gaston Browne has announced that the Government is considering securing a US$100 million concessional loan to accelerate affordable housing construction and renewable energy development across Antigua and Barbuda.
According to Antigua.news, Browne made the disclosure during his weekend radio programme, noting that the proposal comes on the heels of significant reductions in the nation's public debt, which has declined to approximately 61 percent of GDP.
The Prime Minister outlined a proposed allocation of roughly US$40 million toward renewable energy, with the remaining funds directed at expanding the country's housing programme. "We need thousands more homes," Browne said.
Browne also highlighted progress on existing debt obligations, revealing that Antigua and Barbuda has reduced its outstanding Chinese loan portfolio from more than US$300 million to approximately US$120 million.
Officials from the U.S. International Development Finance Corporation are expected to visit Antigua later this month to explore possible financing opportunities, Browne disclosed. He stressed that any new financing arrangement must be secured on highly concessional terms, comparable to those previously negotiated with China and Saudi Arabia.
In parallel, the Government is moving forward with a Chinese grant-funded programme that will deliver 100 homes across Antigua and Barbuda. Browne reaffirmed that expanding affordable housing remains one of his administration's principal priorities.
