Above: construction work in Antigua (CJ Photo)
By the Caribbean Journal staff
Antigua’s government is planning to expand its Construct Antigua Barbuda Initiative to include commercial development, according to Finance Minister Harold Lovell.
The recommendation to do so came from Antigua’s Employers’ Federation.
“Government is very pleased with the results of the Construct Antigua and Barbuda Initiative,” he said. “The impact of the programme has far outweighed our original estimates as we expect the total value of projects to exceed $100 million by the time the CABI is set to conclude at the end of February 2013.”
The CABI, which was launched in 2011, aimed to stimulate the country’s construction sector by reducing the cost of home ownership through government initiatives and private sector partnerships.
“Through the CABI, we managed to jump-start activity in the construction sector and this has in turn benefitted wholesale and retail trade, increased employment, and improved the demand for private sector credit,” Lovell said.
It is slated to conclude in Februrary 2013.