NatWest International “demonstrates its support for Gibraltar and its economy”
NatWest International Gibraltar and NatWest UK have announced that they are providing funding to the Government of Gibraltar to help aid the funding of specific Covid-19 costs and support general economic activity in the future.
The lending facility, which totals £500 million, is split equally between the two lenders and has been put in place to provide the Government of Gibraltar with the maximum amount of flexibility to allocate expenditure in support of the economy during the period of the pandemic and the recovery phase. In addition the funding also provides additional liquidity as the end of the Brexit transition period approaches.
Gordon Paterson, Country Head and Head of Local Banking, NatWest International Gibraltar said “As part of our purpose as a bank, it is our aim to support not just our customers and colleagues but the local community of which we are a part, and there has been no more pertinent time to demonstrate this. A strong relationship has been built up over a number years with the Government of Gibraltar which provides the confidence to support them in respect to this material undertaking.”
Fabian Picardo, Chief Minister, stated “It is a pleasure for us to announce that we have entered into our facility agreement with NatWest International Gibraltar, a local bank that continues to thrive in our economy, and NatWest UK, who were brought in by the local team. The NatWest team has worked tirelessly with the Financial Secretary and his team over several months to secure this landmark deal. As we see how mass vaccination in 2021 raises the probability of an imminent recovery, the deal marks the turning of a new leaf as we kick-start our economy and look forward to the new opportunities this may bring.”
Photo shows: (left to right) Albert Mena, Financial Secretary, Government of Gibraltar, Fabian Picardo, Chief Minister, Government of Gibraltar, Gordon Paterson Country Head and Head of Local Banking, NatWest International Gibraltar, Mark Stevens, Senior Relationship Director, NatWest International Gibraltar.
