Muskrat Falls loan guarantee close to reality

CBC is reporting that the federal government will make an announcement on Friday about a loan guarantee for the proposed Muskrat Falls hydroelectric project. Prime Minister Stephen Harper promised the federal government would give Newfoundland and Labrador a loan guarantee when he was campaigning in the province before last May’s federal election – and there has been no indication to the contrary since. A loan guarantee on the proposed $6.2 billion project essentially lets the provincial government borrow money using the Federal government’s credit rating to reduce the interest paid on said loans. The loan guarantee would provide significant savings throughout the course of the project’s development.

Source: CBC

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