A statement from the Gibraltar Savings Bank:
Following recent press statements suggesting that the Gibraltar Savings Bank may have provided a loan to Sunborn (Gibraltar) Ltd, the Gibraltar Savings Bank would like to clarify that it has not provided any such loan to Sunborn (Gibraltar) Ltd nor has it made any investment in this company.
In line with the environmental policy of the Government, the Gibraltar Gazette is now being printed on recycled paper.
This follows the joint intervention of the Deputy Chief Minister Dr Joseph Garcia and the Minister for the Environment Dr John Cortes.
The GSD has replied following the Government’s press release yesterday in which it denied any financial assistance for the Sunborn project:
The GSD notes the Government's totally evasive response to the Opposition's statement in relation to the mortgage granted over the Sunborn vessel to Credit Finance Co Limited, a company registered at No 6 Convent Place and owned by the Government and the Gibraltar Savings Bank.
The Government have issued another statement in the ongoing debate over public finances:
In their latest response on the state of the public finances, the GSD seem to have finally accepted the fact that they left the incoming GSLP/Liberal Government with just £20 million of usable cash reserves.
They have also finally accepted that the remaining £245 million of cash reserves were not available for use by the Government without breaching the statutory net public debt limit prescribed under the Borrowing Powers Act.
