Mr. Chairman, as Mr. Braden mentioned earlier, the loan guarantees and support provided by our government has certainly been beneficial in terms of creating a diamond polishing industry in the Northwest Territories. So it has made that industry possible. I think without it we would not see it. The diamond secondary industry is not a big industry in Canada yet, so with our chartered banks in Canada where the decisions are made in Toronto and so on this is not something that attracts their attention. I think eventually it may happen or else we will see diamond banks moving into Canada. At this point, no, there is not a lot of interest by Canadian banks. It has been some time since I had discussions, but I have had discussions with representatives of banks about loan guarantees in the rough diamond area and they just do not know enough about the business. I expect that over the longer term we will see it happening, but not in the immediate future.
Joe Handley on Clear And Consistent Financial Reporting Protocols
In the Legislative Assembly on February 27th, 2003. See this statement in context.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
February 27th, 2003
Page 397
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