Loan agreement between Gov’t and JPS for US$150M signed yesterday

The loan agreement between the Government and the Jamaica Public Service JPS for US$150 million was signed yesterday.

Energy Minister Daryl Vaz reiterated that the loan is to aid the JPS in the restoration of power, following disruption caused by Hurricane Melissa.

He noted the short time between approval and signing of the agreement, in order to have electricity restored by Christmas.

Over a 120 additional linesmen are due to arrive tomorrow.

Mr Vaz also reiterated that the 5 year loan coincides with the timeframe for a potential new licence for JPS.