Public Finance Authority Closes on $100 Million Line of Credit - Government of the United States Virgin Islands
Public Finance Authority Closes on $100 Million Line of Credit - Government of the United States Virgin Islands Public Finance Authority Closes on $100 Million Line of Credit - Government of the United States Virgin Islands Government of the United States Virgin Islands Home Governor Albert Bryan Jr Pressroom Executive Orders The Cabinet Government of the United States Virgin Islands Home Governor Albert Bryan Jr Pressroom Executive Orders The Cabinet © 2026 Government of the United States Virgin Islands Public Finance Authority Closes on $100 Million Line of Credit Search Latest Comments No comments to show. June 20 PFA also draws down $45 million to repay advance funds taken from the General Fund U.S. VIRGIN ISLANDS — The Virgin Islands Public Finance Authority on Thursday, June 15, closed on the $100 million line of credit that the 35 th Legislature approved for the Government of the Virgin Islands (GVI) and made its first draw against the loan for $45 million to repay advance funds utilized from the General Fund. …
Download the original document · Plain text (TXT) · Browse the archive · How this archive works
Original source: https://www.vi.gov/public-finance-authority-closes-on-100-million-line-of-credit/
SHA-256 9279fcf4252f9a18856b129c0d98879ee8e3b91f9b1629cdf5fb9215bac7861a
Re-using this document
A public record of the Government of the Virgin Islands, published by the agency itself. No copyright is asserted on it and 17 U.S.C. § 105 does not reach territorial government, so it publishes as a territorial public record.
Our description, tagging, arrangement, extracted text and machine transcripts are released under CC0 1.0. We assert nothing about the document itself.
Archive identifier LF-9279fcf4252f
Document text
Public Finance Authority Closes on $100 Million Line of Credit - Government of the United States Virgin Islands Public Finance Authority Closes on $100 Million Line of Credit - Government of the United States Virgin Islands Government of the United States Virgin Islands Home Governor Albert Bryan Jr Pressroom Executive Orders The Cabinet Government of the United States Virgin Islands Home Governor Albert Bryan Jr Pressroom Executive Orders The Cabinet © 2026 Government of the United States Virgin Islands Public Finance Authority Closes on $100 Million Line of Credit Search Latest Comments No comments to show. June 20 PFA also draws down $45 million to repay advance funds taken from the General Fund U.S. VIRGIN ISLANDS — The Virgin Islands Public Finance Authority on Thursday, June 15, closed on the $100 million line of credit that the 35 th Legislature approved for the Government of the Virgin Islands (GVI) and made its first draw against the loan for $45 million to repay advance funds utilized from the General Fund. The $100 million line of credit is with First Bank of Puerto Rico, and it will be used to further the Territory’s disaster recovery efforts. The $45 million advance funds from the General Fund were paid by the GVI on behalf of the V.I. Water and Power Authority to VITOL as payment toward WAPA acquiring some of the supplier’s liquid propane gas (LPG) assets. WAPA is in the process of applying for federal funding that will reimburse the line of credit by August. “I want to thank the 35 th Legislature for approving this line of credit,” Governor Albert Bryan Jr. said. “With the acquisition of the LPG assets, WAPA will have more control of the fuel supply and management of fuel costs, which will eliminate substantial debt so the utility can better focus on executing its strategic priorities.” During testimony before the Senate on April 5, 2023, the Governor’s financial team explained that the line of credit will be used to fund disaster recovery projects pending reimbursements from the Territory’s federal partners. Similarly, WAPA, with the assistance and support of the GVI, is in the process of applying to the U.S. Department of Housing and Urban Development (HUD) for federal funding that would provide reimbursement by August for the $45 million draw on the line of credit used to acquire VITOL’s LPG assets. The Bryan-Roach Administration is investing in the Territory’s people, infrastructure and future through transparency, stabilizing the economy, restoring trust in the government and ensuring that recovery projects are completed as quickly as possible. Visit transparency.vi.gov TAGS No tags CATEGORIES Uncategorized Previous Next Comments are closed © 2026 Government of the United States Virgin Islands.