Government Corrects £90 Million Rooke Figure

The Government has clarified that the £90 million figure given in Parliament in connection with the Rooke development was incorrect.

It says the outstanding balance owed to the Gibraltar Savings Bank is £30 million, which will be repaid following ongoing negotiations. The payment may be made in one or several instalments, depending on the terms of the sale.

A statement from the Government follows below:

The figure of £90 million given in answer to questions in Parliament was incorrect and the only figure that is due to the Gibraltar Savings Bank is a balance of £30 million. 

This £30 million will be paid in full following the negotiations that are taking place. Whether it is paid in one go or in several payments will be decided during the course of the negotiations, depending on the terms of the sale.