Islanders will now have greater access to information on government loans thanks to a new policy being implemented immediately.
Moving forward, all loans approved by Finance P.E.I. and Island Investment Development Inc. with a cumulative value over $100,000 will be disclosed publicly on the internet once approved.
The new policy is now in place.
It will not apply to previous loans made by government.
When a loan receives approval, the name of the borrower, the name of the lender, the amount, the interest rate, the term and a general comment about the use of funds will be posted to the Finance P.E.I. website.
Finance P.E.I. will also work with borrowers to allow additional information to be disclosed on a case by case basis.
For the most recent disclosures, click here.
