| U.K. to loan TCI $15 million | | Print | |
| Thursday, 01 July 2010 12:27 | |||
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An almost $15 million loan to the TCI is on its way from the U.K. because the country cannot meet its financial commitments for June, according to International Development Secretary Andrew Mitchell. "Without immediate U.K. support, TCI would fall further into economic crisis," said Mr Mitchell. "Following discussions with the Foreign and Commonwealth Office, I have decided to provide a temporary package of financial support." Click HERE to read a copy of Mitchell's statement released July 1 by His Excellency the Gov. Gordon Wetherell. The governor is currently in the U.K. to brief new ministers on the country. He left the TCI on Tuesday for a three-week visit, with CEO Mark Capes filling in during his absence.
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In a written statement to MP's, Mitchell said the country was in dire need of funds to cover its June expenses, including civil servant salaries - which includes police and teachers.Related Articles
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