Browne Acknowledges Loan Repayment Challenges in Entrepreneurial Fund, Vows Expansion After Election
Prime Minister Gaston Browne says the government’s Entrepreneurial Development Fund is facing significant repayment challenges, but pledged that the programme will be expanded rather than scaled back following the upcoming general election.
Speaking on Pointe FM’s Browne and Browne Show, Browne said a growing number of borrowers have failed to meet their repayment obligations, contributing to what he described as a high delinquency rate.
“Many people believe that government money is free, and they don’t have to pay it back,” Browne said, noting that the issue has affected the sustainability of the fund.
Despite the challenges, the prime minister made it clear that the administration has no intention of shutting down the programme, which provides low-interest loans to small businesses and aspiring entrepreneurs.
“We persist because we don’t want to close that window,” Browne said. “We want to continue to help young entrepreneurs in particular.”
The fund, which currently holds an estimated $4 million to $5 million, has been a central part of the government’s strategy to stimulate small business growth and economic participation, especially among youth.
Browne said the government plans to increase the size of the fund after the election, allowing for greater access to financing and the possibility of larger loans for qualified applicants.
“We will make sure that we expand that programme after elections,” he said, adding that additional resources would be injected to support more entrepreneurs.
The Entrepreneurial Development Fund offers loans at significantly lower interest rates than commercial banks, often ranging between 1% and 3%, depending on the sector. It has been promoted as a tool to encourage business creation and reduce barriers to entry for individuals without access to traditional financing.
While acknowledging the repayment issues, Browne maintained that the broader goal of empowering entrepreneurs remains a priority, even if it comes with financial risks.
The expansion of the fund is expected to form part of the Antigua and Barbuda Labour Party’s economic agenda as the country heads into elections later this month.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
You are pulling out all the stops. What else are you not going to come with just to eek out a win. Wouldn’t be surprised you do not promise to bring Jesus himself to take us all to heaven after the 30th. CHARLATANISM ON STEROIDS
What utter nonsense from a stupid and ignorant Prime Minister. You acknowledge that the fund is facing massive repayment challenges but you say nothing about the measures the fund managers will be taking to ensure the the long term viability of the fund. Of course this is because the ABLP is incapable of managing anything. Your capacity is limited to enriching yourselves, your family and your friends and handing out bribes and freebies to your political hacks and those who opt to sell their souls to join your gang of self serving corrupt politicians.
Yes GB, keep expanding your government beyond sustainability, and then bilk the people for more more money to sustain your massive government.
That’s the way to go you backward fellow.
But they always say a fool and his money shall soon depart, and this financial fool has bleed the Treasury of Antigua dry with his massive government and handing out freebies to his Loyalist supporters.
Y’all better break this curse Antigua has been under for years. When I came back home in 2020 on the first flight after traveling was opened back up, I saw it, and I have been preaching about the state of Antigua since then.
I saw it in the eyes of the youth, and all the robberies, rapes, killings that followed after, wasn’t a surprise to me.
This government sat back and did nothing about it, in fact, they have been complicit in quite a few of the crimes. A sitting MP got murdered, millions in vehicle thief took place, African refugee’s were lost at sea (no investigation) those are just a few of the crimes that this administration was directly involved in and responsible for. And don’t talk about the killing of Manny and Kaleel that have been yet to be investigated. Small matters some might just gloss over as nothing, but when you put everything together, this small island has just been under too much stress over the years and it reflects the mindset of who is at the top.
To simple say ” oh this is happening all over the world” is a disservice and a slap in the face to fellow Antiguan’s.
So when the top is corrupted, the entire bottom is tarnished.
You have a chance to lift this curse fellow Antiguan’s, because you best believe the demon that control the darkness of greed and corruption has been let loose into Antigua, and it will not leave until you kick him out.
” Resist the devil and he will flee from you”.
So there are direct ways you can lift this dark curse over Antigua.