Government to borrow US$13 million from CDB

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Government has sought parliamentary approval to borrow US$13 million from the Caribbean Development Bank (CDB).

Prime Minister Gaston Browne, who presented the resolution before the House of Representatives on Saturday, said that the loan serves to provide emergency Covid-19 support.

Browne further explained that the loan will service existing obligations to the CDB.

A second resolution was also passed to authorise a grant agreement between the CDB, the government of Antigua and Barbuda and the Antigua Public Utilities Authority for the Barbuda energy resilience project, rehabilitation and reconstruction, for more than US$3 million.

That grant was offered by the British government in 2017 after Hurricane Irma devastated Barbuda.

Barbuda’s MP Trevor Walker supported the resolution.

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