Caribbean News Now! 
Economic Development Bank launches loan amnesty program in USVI 
Published on March 14, 2016 
CHARLOTTE AMALIE, USVI -- The US Virgin Islands Economic Development Authority (VIEDA), 
through its subsidiary entity the Economic Development Bank (EDB), has announced the launch of its 
“Loan Amnesty Program 2016” for all EDB delinquent borrowers. This program will be in effect from 
March 15, 2016, through September 15, 2016.  
The purpose of this Loan Amnesty Program 2016 is to offer clients of the 
former Government Development Bank (GDB) and Small Business 
Development Agency (SBDA), now referred to as the "Economic 
Development Bank", an opportunity to resolve their outstanding loan 
obligations before legal action is taken. This is the second time the VIEDA 
has launched this amnesty program to assist EDB delinquent borrowers in 
the US Virgin Islands. 
 
The following are the conditions and limitations of the Loan Amnesty 
Program 2016: 
 
• Delinquent accounts with loan principal balances paid-in-full by September 15, 2016, will be granted a 
100 percent discount on accrued interest and late fees up to and including the date of payment(s); and 
• Delinquent accounts with loan principal balances paid by at least 50 percent by September 15, 2016 
will be granted a 50 percent forgiveness on accrued interest and late fees up to and including the date 
of payment(s);  
• New debt re-payment schedules may be created by the Economic Development Bank for borrowers. 
Other conditions may apply. 
 
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