Loan to Blue Islands (FOI)

​​Request

A

To date how much of the £10 million loan to Blue Islands has been re paid?

B

What rate of interest was charged?

C

What are the terms of the loan?

Response

A

Whilst the loan facility granted was for £10 million, the final sums drawn down under the facility totalled £8.5 million. Of that figure, £1,425,653 of the capital sum has been repaid to 30 September 2024. 

B and C

The information requested is exempt under Article 33(b) (Commercial interests) of the Freedom of Information (Jersey) Law 2011.

Article applied

Article 33 - Commercial interests

Information is qualified exempt information if –

(a) it constitutes a trade secret; or

(b) its disclosure would, or would be likely to, prejudice the commercial interests of a person (including the scheduled public authority holding the information).

Public Interest Test 

Article 33 (b) is a prejudice-based exemption. That means that to engage this exemption there must be a likelihood that disclosure would cause prejudice to the interest that the exemption protects. In addition, this is a qualified exemption, and consideration must be given to the public interest in maintaining the exemption.

The Scheduled Public Authority (SPA) considers that providing information could prejudice the commercial interests of the Government of Jersey and / or third parties. There may be public interest in the commercial information, however it was considered that this is outweighed by the potential for commercial and or financial damage.​