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Antigua and Barbuda joins ALBA Bank, borrows US$15.8m

Antigua and Barbuda joins ALBA Bank, borrows US$15.8m
Antigua and Barbuda Prime Minister, Gaston Browne (right), signs agreement with Chair of the Executive Board ALBA Bank, Raul Li Causi. photo/Pride News

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Antigua and Barbuda was formally inducted into ALBA Bank as a new member, on Monday and signed the Financing Agreement relating to a loan of US$15.8 million for injection into LIAT, during a visit to Venezuela by Prime Minister Gaston Browne.

According to a release from the Office of the Prime Minister, the 22nd meeting of the Ministerial Council and the 72nd meeting of the Executive Board of ALBA Bank were held in Caracas on Monday morning at the headquarters of the Central Bank of Venezuela.

The Governor of the Central Bank Calixto Ortega welcomed PM Browne and stated how pleased he was that Antigua and Barbuda was becoming the seventh member of ALBA Bank, joining Venezuela, Cuba, Nicaragua, Dominica, St Vincent and the Grenadines and Bolivia. (Antigua Observer)

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