Kingstown, St. Vincent and the Grenadines– On Tuesday 21st April 2026, the Parliament moved a Motion to establish a National Development Bank of Saint Vincent and the Grenadines. This marks the first and most important step in the fulfilment of a key campaign promise by the New Democratic Party, which had campaigned for its establishment in the 2020 and 2025 elections.
The New Democratic Party campaigned on developing Agriculture, the Blue Economy, the New Economy and Tourism as the four pillars of economic growth. To facilitate such growth among small and medium-sized businesses, the party is committed to the establishment of a National Development Bank to make financing available to the sectors that have not been able to access credit from the traditional banking sector.
Following parliamentary approval at the next sitting of Parliament, the process of formally establishing the bank will commence. This phase will ensure that the bank is established and operated in accordance with the highest standards of transparency, accountability and good governance.
Prime Minister, the Hon. Godwin Friday said, “This is a great moment for St Vincent and the Grenadines, the establishment of the National Development Bank will support farmers, fisherfolk, creatives and other businesses to unlock their potential and drive growth, creating thousands of new jobs and investment for communities across the country. The National Development Bank will be a central pillar in our support to grow the four pillars of the economy.”
Senator Cheiftain Neptune stated: “I am proud that we are bringing this forward today. The NDP has campaigned for a long time on the establishment of the National Development Bank, and we are pleased to be able to fulfil this important campaign pledge so early in our term of government. For too long, small and medium-sized businesses were ignored or lacked support. The NDP government has been clear that we want to unlock growth across the country and generate jobs in every part of the country.”