Commercial banks are being urged to take a more assertive role in financing tourism-linked businesses, as the government seeks to ensure the sector drives broader private-sector growth.
Prime Minister Gaston Browne, speaking Saturday on the Browne and Browne show, said the domestic banking system is liquid and stable but remains overly conservative in its lending approach.
He said banks are well positioned to help identify bankable opportunities tied to tourism spin-offs, including small and medium-sized enterprises, and should work more closely with existing clients to develop viable proposals.
Browne said stronger engagement by lenders would help transform tourism from an enclave industry into a driver of inclusive growth, increasing local ownership, entrepreneurship, and visitor spending.
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Prime Minister Gaston Browne is calling on commercial banks to step up their role in Antigua and Barbuda’s tourism-led growth strategy. He says lenders have the liquidity and insight to finance new tourism spin-offs but must be more proactive in backing diversification and private-sector expansion.
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Reading Gaston facial expressions saying give my son and few other comrade, the bank must facilitate our money laundering.