The government says the Credit Suisse Securities (USA) LLC has agreed to lend it even more money.
Officials from the company’s New York office were in Cabinet yesterday.
The firm’s previous loan to the then Baldwin Spencer administration is still being repaid.
The US$100 million-dollar loan was controversial as it attracted a high interest rate of 13 percent.
The interest rate was negotiated downward by the incoming Gaston Browne Administration after 2014.
The government says having been assessed as a good credit-risk, has won the assurances from the lending company that it is willing to lend an additional amount at a far lower fixed-and-variable interest rate.
The rate of interest or amount of the new loan has not yet been finalized.
“The firm’s first proposal, which included a lender’s fee of a burdensome amount, was rejected. The counter-proposal to the Credit Suisse officials, by the Cabinet, will likely be agreed-to by the decision-makers. The team will confirm the rates early next week,” the Cabinet reported.