Prime Minister Gaston Browne has outlined a proposal to mobilise as much as US$60 million from the Treasury and public-sector institutions to help finance two proposed hotels in Antigua and Barbuda.
The projects would involve hotels of approximately 150 rooms each, with one proposed for the Jolly Beach area and the other at Yeptons. The government is expected to discuss the proposals at Cabinet on Wednesday, October 28.
Browne has suggested that financing could be assembled from several domestic sources, including the Treasury, State Insurance, Social Security and the Antigua and Barbuda Airport Authority.
He has expressed confidence that funds could be mobilised for viable development projects without depending entirely on foreign investors.
However, the proposal raises important questions about how the institutions would participate and what financial protections would be in place. Social Security, in particular, manages contributions and benefits for insured workers and pensioners, making the proposed use of its funds an issue of public interest.
The details of any loans or investments, the expected returns and the approval processes have not yet been fully outlined in the reports.
The proposed hotels would add to the country’s tourism infrastructure if they proceed, potentially creating opportunities for construction, employment and visitor accommodation.
However, the projects remain proposals rather than completed investments. Cabinet discussions and further financial assessments will be important in determining whether the plans move forward.
