And in one more bit of business from Friday's house meeting that we didn't get to cover in our last newscast, the government made an amendment to the International Banking Bill. It will allow BTL to make a loan from an international bank to get financing for their fiber to homes program:..
Rt. Hon. Dean Barrow, Prime Minister
"The need for speed is because BTL has announced this national broadband plan, wants to move posthaste, as quickly as possible ahead with their program to bring fiber to the homes so that the services overall and in particular the internet services can be improved."
"This is a matter of great moment and this is a matter with respect to which BTL is looking to cease the day. They have been trying to negotiate loans, because it's a huge capital investment. Altogether, it should be something like 65-70 million dollars. The first phase requires this 35 million dollars investment. They have been talking to various commercial banking institutions here at home and certainly to one institution in the region in the Caribbean."
"They have a term sheet from Atlantic Bank and they want to move. The longer they take, the more times are wasting."
BTL is expected to make the loan from Atlantic Bank International.
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