The Antigua & Barbuda Development Bank (ABDB) was established in 1971 as a statutory development finance institution and commenced operations in 1974 to provide among other things, medium and long-term development financing to the productive sectors. Over time, the bank also provided finance for mortgages, student loans and small-micro enterprises.

The bank’s mandate also requires that it plays a meaningful role in assisting the Government of Antigua & Barbuda to achieve its national development objectives specifically as it relates to expanding the nation’s output and productive capacity, generate or save foreign exchange and creating employment through
sustainable growth.

The function of ABDB is to mobilize and provide finance for and promote and facilitate the expansion and strengthening of the economic development of the twin-island state. In over 35 years of operations, ABDB has made cumulative disbursements of over EC$125 million, representing loans to various economic sectors. Th e majority of the allocations went to low & middle income housing, which accounted for an estimated 57 percent, and student loans, which made up an estimated 12 per cent. The remaining 31 per cent went to other sectors, including: Agriculture, Fishing, Manufacturing, Tourism, Transportation, Distribution and Construction.

ABDB is a seasoned vehicle for channeling resources from regional and international institutions such as the Caribbean Development Bank, the European Economic Community through the European Development Fund (EDF) and European Investment Bank (EIB), Norway’s Guarantee Institute for Export Credit (GIEK) as well as other private sector investors/companies by way of loans, grants, lines of credit and other modalities to the various sectors of the economy of Antigua & Barbuda.