The prime minister of Antigua and Barbuda, Gaston Browne, announced Sunday that senior representatives from the U.S. International Development Finance Corporation (DFC) are slated to travel to the Caribbean nation later this July for high-level talks centered on potential large-scale funding for key national development initiatives.
In an interview aired on the local Brown and Brown Show, Browne confirmed the bilateral meeting is locked in for July 15. The discussions come as the Antiguan and Barbudan government actively pursues diverse capital sources to advance three priority sectors: affordable housing expansion, scaled-up renewable energy deployment, and major port infrastructure upgrades.
Browne emphasized that the Caribbean nation would gladly accept DFC financing, provided the lending terms align closely with the concessional agreements Antigua and Barbuda has secured from China in past infrastructure partnerships. He laid out clear benchmarks for what the government considers a favorable funding package: a minimum 20-year repayment term, a 2% annual interest rate, and a five-year grace period before principal payments begin.
“If they’re able to match the terms we’ve gotten from China and we can access low-cost capital, we more than welcome that investment,” Browne stated.
The prime minister noted that Antigua and Barbuda has already reaped significant benefits from Chinese concessional financing, which has supported the delivery of multiple transformative infrastructure projects across the country. He added that the government maintains an open, non-exclusive policy toward development partnerships, and stands ready to pursue equitable lending arrangements with any international partner that can meet its terms.
Should the DFC come forward with a favorable offer, Browne revealed the government is prepared to borrow up to $150 million to deepen the expansion of the country’s core port infrastructure. That project would build on recent upgrades to the St. John’s port, transforming it into a major regional transshipment hub serving all member states of the Organisation of Eastern Caribbean States. To accommodate the projected growth in cargo volume, the expansion will require additional land reclamation work and a major increase in container storage capacity.
Browne wrapped up by stressing that access to affordable, long-term development capital is a foundational requirement for advancing Antigua and Barbuda’s national growth agenda, while also allowing the government to maintain disciplined, prudent debt management practices that protect the country’s long-term fiscal stability.