The Barbados based Caribbean Development Bank (CDB) will be lending the British Virgin Islands (BVI) US$3million to clean up the territory in the aftermath of three major weather events earlier this year.
Premier Dr Orlando Smith told legislators on Monday that US$600 000 of the amount is being given as a grant.
The finance minister said he did not know how much the territory will have to repay the CDB for the loan.
The BVI was rocked by a tropical wave in August and two category 5 hurricanes in September.
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