CDB awards JA Govt US$100m loan
Published:Monday | February 2, 2009 | 3:22 PM
The government has signed a US$100 million loan with the Caribbean Development Bank (CDB).
The policy-based loan is the largest approved by the CDB for any of its member countries and attracts an interest rate of 4 .5 percent.
The loan agreement was signed this morning at the offices of the Finance Ministry.
The funds are to be disbursed in three equal tranches with the first to be available on March 31 this year, the second on March 31 2010 and the third at the end of March 2011.
For more on this story listen to the Gleaner/Power106FM report at 5pm.