The Government of Saint Lucia has received approval for a loan facility of US $20 million (EC $53.8 million) from the Export-Import Bank of the Republic of China (Taiwan) (Eximbank) to expand access to affordable housing and strengthen essential community infrastructure.
The facility, to be on-lent through the Saint Lucia Development Bank (SLDB), will help low- to medium-income Saint Lucians build or improve their homes, while financing housing infrastructure such as solar PV systems, drainage upgrades, and water tanks, ensuring that new developments are modern, climate-resilient, and sustainable.
The US$20 million Exim-Bank facility builds on a series of major housing initiatives already underway:
- $54 million NIC-Guaranteed SLDB Housing Loan Facility: Approved by Parliament on September 10, 2024, and now in effect. Provides eligible public servants with 100 per cent loan financing, plus a $1,000 grant toward legal fees and a stamp-duty waiver on the first $400,000 of residential loans. Qualified private-sector borrowers also benefit from the waiver.
- The $10 million National Housing Project is improving living conditions and upgrading community housing infrastructure.
- Infrastructural works by started by NIPRO, to deliver at least 200 affordable homes and lots.
- The reinstated $2 million Distress Fund assists families affected by fires and natural disasters.
- The removal of VAT on selected building materials, including cement, lumber, and galvanise, to lower construction and renovation costs.
- The Talvern Housing Development Project, completed with all lots sold, enabling dozens of Saint Lucian families to become homeowners.
- CIP-financed developments at Rock Hall and Belvedere, now under construction.
Collectively, these measures directly address long-standing challenges in the housing sector, including barriers to financing, the shortage of affordable homes, and the need for more climate-resilient housing, stronger infrastructure, and meaningful tax relief.
Through smart financing, targeted investment, and practical social support, the Government of Saint Lucia is incrementally removing the barriers that have kept many families from owning a home and building a housing framework that delivers real, lasting results.
