Browne Says Government Seeking $150M in Climate Funding to Expand Housing Loan Programme
Gaston Browne says the government will seek to secure up to $150 million in financing from international climate funds to significantly expand a housing loan programme aimed at assisting public servants and low-income residents in repairing dilapidated homes.
Speaking on Pointe FM, Browne said proposals have already been submitted to the Global Environmental Fund and the Loss and Damage Fund, with the government targeting approximately $135 million from those sources. The administration plans to contribute an additional $15 million in the first year to support the initiative.
“We will be raising about $150 million… from the Global Environmental Fund as well as the Loss and Damage Fund,” Browne said, adding that the programme is designed to address substandard housing conditions across the country.
Under the expanded programme, loans would be provided directly to individuals—particularly those who do not qualify for traditional bank financing—at concessional rates of between 2% and 3%, with repayment periods of up to 30 years.
“We’ll be giving loans directly to individuals who ordinarily would not qualify for bank loans… and make it really affordable,” Browne said.
The prime minister said the initiative builds on an existing government programme that has already disbursed approximately $17 million in loans through what he described as the SURF Fund. The new financing, he said, would allow the government to scale up those efforts nationwide.
“This will help us to accelerate that housing renewal that we are trying to achieve throughout the country,” Browne said, noting that the programme would extend beyond urban areas into communities where dilapidated homes remain a concern.
Browne linked the proposal to climate resilience, arguing that substandard housing leaves communities vulnerable to extreme weather events such as hurricanes, strengthening the country’s case for international climate financing.
“If you have people living in substandard homes… and we have a Category 5 storm, the houses can’t stand up,” he said, adding that discussions with international partners are ongoing and that he remains optimistic about securing the funds.
The programme is expected to operate as a revolving fund, with repayments used to finance additional loans, allowing for continued expansion over time.
Browne said the initiative forms part of a broader effort to improve living standards and modernize housing across Antigua and Barbuda, while also challenging critics to outline how they would finance similar proposals.
“We are telling you precisely where the money is going to come from,” he said.