Prime Minister Gaston Browne has confirmed that the $100 million loan facility announced for nationwide roadworks has not yet been drawn down, as financing arrangements are still being finalised with commercial banks.
Speaking on Pointe FM on Saturday, Browne responded to public concerns and political speculation surrounding the status of the major infrastructure initiative, clarifying that the government is still in the process of securing the necessary agreements.
“That $100 million road loan that we announced — the Ministry of Finance is still finalising the agreement with the banks. We have not touched a cent of it yet,” the Prime Minister stated.
The proposed loan, initially unveiled as part of the government’s broader infrastructure development agenda, is intended to support critical road rehabilitation and expansion across Antigua and Barbuda.
Browne dismissed suggestions from opposition figures that the funds had already been misused or depleted, labelling such claims as misinformation aimed at undermining public confidence.
“It’s important that the public gets the facts. The financing arrangement is still being structured. No disbursements have been made,” he said.
The loan is expected to be a key component of the government’s medium-term infrastructure programme, which also includes road maintenance, urban drainage systems, and upgrades to key transportation routes.
Although the project timeline has yet to be officially announced, Browne insisted that once the agreements are completed, roadworks will proceed in phases, guided by a strategic prioritisation of high-traffic and flood-prone areas.
The Prime Minister added that the government’s careful approach to the financing deal reflects its commitment to responsible debt management and transparency in major capital projects.
The confirmation follows repeated calls from the opposition United Progressive Party (UPP) for greater clarity on the loan’s status and expenditure, amid mounting public frustration over deteriorating road conditions in several communities.
Officials from the Ministry of Finance have not yet released a projected date for finalising the loan agreement.