A proposed National Development Bank could begin operating in St. Vincent and the Grenadines during the first quarter of 2027, according to the Head of the newly established Department of Private Sector Development, Christo Primus.
The proposed bank is intended to expand access to financing for businesses that may have difficulty obtaining loans through existing commercial lenders. The government has identified micro, small and medium-sized enterprises, start-ups, youth-led businesses, agriculture, fisheries, agro-processing, tourism, creative industries and digital businesses as potential beneficiaries.
Legislation for the institution has reportedly gone through a first draft and is currently under review. The government has also identified EC$1.5 million for capitalisation in its 2026 estimates, while additional grant support from Taiwan has been discussed.
The initiative is part of a broader effort to improve access to capital and strengthen private-sector development in SVG. However, the International Monetary Fund has raised concerns about the fiscal risks associated with establishing a new development bank, recommending that existing credit channels also be strengthened.
Source: St. Vincent Tribune / One News SVG, September 20, 2026.
