ST GEORGE’S, Grenada — Grenada is setting up a EC$50 million Government Housing Fund as part of a record EC$1.96 billion budget for 2026, presented by Finance Minister Dennis Cornwall on 1 December 2025.
The fund is to draw on money from the National Lotteries Authority, the Grenada Development Bank and revenue from home sales, according to the budget statement. It is intended to attract matching finance from commercial banks, insurers and credit unions for affordable housing. The total budget of EC$1,960,013,910 is about EC$47.1 million higher than the year before, The New Today reported.
The statement said a pilot of 17 model homes at Dunfermline under Project 500, the government’s affordable housing scheme, was targeted for completion by the end of 2025, and that the Housing Authority of Grenada would bring in private partners for the next phase. It reported that the second phase of the Build Back Better programme had produced 647 units, 244 of which had been allocated to low-income families at subsidised prices.
Carriacou and Petite Martinique, which were hardest hit by Hurricane Beryl in July 2024, are allocated EC$64.8 million, including EC$20 million for Beryl recovery and EC$13 million for home improvement.
What it means
Analysis: The fund is designed to pull local lenders into affordable mortgages rather than rely on government money alone. If that works, first-time buyers could find credit easier to obtain, supporting demand for entry-level homes.
Editor’s note: This article was added to the Jamaica Homes News archive on 30 September 2026. It reports events from December 2025 and is dated to when they were reported.
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