DETAILS of the government's agreement with Britain to concede the right of development to owners of property in the Sovereign Base Areas (SBA) were unveiled on Tuesday by interior minister Sokratis Hasikos.
"The agreement allows for 78 per cent of SBA land, some 200kmA, which includes the totality of private properties, to be inducted into land-use planning for development."
The GAO has just released a report on additional steps the SBA should have taken by now to reform its disaster loan program and improve the application process for future disasters.
Among the recommendations the SBA has met are having economic disaster injury loans available to nonprofits, increasing the amount of disaster loans from $10,000 to $14,000 without requiring collateral and establishing a second facility to process disaster loans in case the primary facility is unavailable, the GAO said.
expects to fund the purchase price from cash on hand and from borrowings under its currently undrawn USD$770 million revolving credit facility.
The Patriot Express Loan is offered by SBA
's network of participating lenders nationwide and features SBA
's fastest turnaround time for loan approvals.
received financial advice from Deutsche Bank Securities Inc.