US Development Finance Corporation to Visit Antigua to Discuss Major Project Funding

Officials from the U.S. International Development Finance Corporation are expected to visit Antigua and Barbuda later this month to discuss potential financing for several major development projects, Prime Minister Gaston Browne announced Sunday.

According to Antigua News Room, Browne made the disclosure while speaking on the Brown and Brown Show, confirming the meeting is scheduled for July 15. The discussions are expected to cover funding options for housing, renewable energy, and port expansion.

"I'm told that the Development Finance Corporation of the United States… will be coming here to meet me on the 15th of this month to discuss possible funding options," Browne said.

The prime minister made clear that the government would welcome U.S. financing, provided it offers terms comparable to those currently received from China. He outlined specific conditions the government considers acceptable.

"For us, a good offer must be long-term, at least 20 years, 2% interest, with a five-year moratorium," Browne said. "If they're able to match the Chinese and we're getting cheap money, we more than welcome that."

Browne noted that Antigua and Barbuda has previously benefited from concessional financing from China for major infrastructure projects, but stressed that the government remains open to similar arrangements from other international partners.

Should favourable terms be agreed upon, Browne indicated the government could borrow as much as US$150 million to further develop the country's port infrastructure. "We will borrow US$100 [million], maybe US$150 million from the U.S. Development Finance Corporation," he said.

The prime minister said additional financing would be directed toward expanding the recently upgraded St. John's port into a major transshipment hub serving the Organisation of Eastern Caribbean States. He noted the project would require further land reclamation and expanded container storage capacity to handle increased cargo traffic.

Browne emphasised that securing affordable, long-term financing remains central to advancing Antigua and Barbuda's broader development agenda while maintaining responsible debt management.