Thank you, Mr. Chairman. It is true that I am the lead Minister in regard to dealing with proposals regarding value-added activities in diamonds in the Northwest Territories. As far as the proposal is concerned, the component that deals with loan guarantees that are required by these proposals are dealt with almost exclusively by the Financial Management Board Secretariat, and so it is the Minster of Finance who deals with the details of it. What is being required so far is one for Sirius Diamonds that says we are providing a loan guarantee of up to, I think presently, about $2.5 million. It is all properly secured through the Financial Management Board Secretariat. The total loan guarantee can increase over the next few years, as required, but it will completely be no longer required, I believe, in five years. I believe if the chair allows, the Minister of Finance could provide more detail if it is required by the Member.
Stephen Kakfwi on Committee Motion 25-13(7): Resurrecting And Priorizing The Northern Accord Proposal
In the Legislative Assembly on April 29th, 1999. See this statement in context.
Committee Motion 25-13(7): Resurrecting And Priorizing The Northern Accord Proposal
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
April 28th, 1999
Page 449
See context to find out what was said next.