Prime Minister Gaston Browne has proposed combining funds from several public institutions to finance major development projects in Antigua and Barbuda, with the potential pool reaching US$60 million.

Speaking on his weekly radio programme, Browne said the initiative would allow the country to make greater use of its domestic resources, reduce reliance on foreign investors and retain more of the profits generated by local developments. The proposed funding sources include the Treasury, State Insurance, the Social Security Board and the Airport Authority. Browne outlined possible contributions ranging from US$10 million to US$20 million from the Treasury, US$10 million from State Insurance, US$10 million to US$20 million from Social Security, and another US$10 million from the Airport Authority.

Among the possible projects are developments involving properties at Greenfields and Jolly Beach, each with approximately 150 rooms, as well as land at Yepton’s. Browne said Cabinet would review the proposals and assess their viability before deciding which projects to pursue.

He also suggested that the pooled public funds could help initiate developments, with additional financing potentially coming through the Citizenship by Investment Programme and borrowing.