Prime Minister Gaston Browne has confirmed that Antigua and Barbuda’s $100 million road enhancement initiative will be funded through a bond arrangement with the Eastern Caribbean Amalgamated Bank (ECAB) and Antigua Commercial Bank (ACB).
Amid public pressure to disclose the project’s financing, Browne assured that the funds will support the construction of climate-resilient concrete roads, replacing traditional asphalt, which he said deteriorates quickly due to extreme weather.
The government has already invested in its own concrete production and expects the arrival of a pug mill to mechanize the mixing process for roller-compacted roads.
Strict oversight measures will be in place, with bank engineers monitoring contractors’ work. To help manage the bond, the Antigua & Barbuda government initially proposed a 40% increase in vehicle licensing fees but may adjust this after public consultations.
