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Gibraltar Covid Response
19 November 2020
Type
Written Ministerial Statement
Department
Foreign, Commonwealth and Development Office
At a Glance
Issue Summary
The UK Government is addressing financial strain caused by the COVID-19 pandemic on Gibraltar's economy and government finances.
Action Requested
HMG will provide a Loan Guarantee for a lending facility up to £500m, enabling Gibraltar’s government to borrow at more favourable rates. Contracts are being prepared for signature as transparency measures have been committed to.
Key Facts
- The pandemic has impacted around 60% of Gibraltar's economy.
- HMG will provide a Loan Guarantee for a lending facility up to £500m.
- A Contingent Liability Checklist has been approved by HMT and FCDO ministers.
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Assessment & feedback
Summary accuracy