Government opens bidding on CI$236 million capital loan facility
The Cayman Islands Government has issued a request for proposals for a two-year loan facility, with more than half to be drawn down by December.
The Cayman Islands Government has begun seeking a financial institution to provide a CI$236 million loan facility over two years, with officials confirming plans to draw down CI$124 million before the end of December, Cayman News Service reports. Cayman Independent and Cayman Marl Road both note the minister's position that the amount was already approved in the 2026-2027 budget and is not additional borrowing. Separately, CNS reports that Robert Tatum has been promoted to director of the Central Procurement Office, becoming the first Caymanian to head scrutiny of public capital spending.
On the regulatory front, Parliament has passed legislation enabling the freezing of Local Company Control Licences in any sector for a period of time, CNS reports, affecting companies less than 60% Caymanian-owned. Cayman Independent reports a consultation on a draft bill creating powers to disqualify company directors who are sanctioned or convicted. OfReg has published its Fuel Quality Standards 2027, effective 1 January, according to CNS, which also reports stakeholder consultations on proposed pensions and labour reforms and a CINICO pilot giving staff access to private healthcare.
In the courts and the corporate sector, Cayman Marl Road reports that the developers behind the proposed Orchard Ecovillage in Lower Valley have been ordered into liquidation after failing to repay deposits, and that technology consulting firm TTG Corp. is suing its former CFO over about US$2.3 million in allegedly unauthorised transfers. Cayman Independent reports Ogier acted as Cayman counsel on four Nasdaq SPAC IPOs raising about US$476 million, Consolidated Water's US subsidiary won a US$39.8 million contract, and Liberty Networks has challenged the narrative on subsea cable monopoly, pricing and age.
Elsewhere, Ombudsman Sharon Roulstone has rejected the attorney general's claim that her FOI ruling on the chief justice's appointment is unlawful, CNS reports, raising the prospect of judicial review. Cayman Airways has won Caribbean's Leading Airline 2026 at the World Travel Awards, per the Cayman Compass, and Cayman Independent reports Colorado State University's final 2026 outlook puts the chance of below-normal Atlantic activity at 60%. Counsellors have been sent into an East End school following a double death, with ministers offering condolences.