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Govt agrees £500m credit facility with NatWest

From left to right are Albert Mena, Financial Secretary,Chief Minister Fabian Picardo; Gordon Paterson Country Head and Head of Local Banking, NatWest International Gibraltar; and Mark Stevens, Senior Relationship Director, NatWest International Gibraltar.

The Gibraltar Government has agreed a £500m credit lending facility with NatWest Bank in Gibraltar and the UK, with the aim of funding specific Covid-19 costs and bolstering economic activity against the backdrop of the pandemic and Brexit. The three-year facility is backed by the UK Government’s £500m sovereign guarantee announced in November, which runs...

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