Eagle Labs Funding Update

Summary

The requester asked for an update on the amount paid from a £324,062.50 underwriting figure for Eagle Labs between March 2018 and June 2019. The Department for Enterprise disclosed that a total of £120,299.54 had been paid under the guarantee arrangement between March 2018 and October 2020.

Key Facts

• The Department for Enterprise entered into a joint agreement with Barclays Bank and the Chamber of Commerce to provide a financial guarantee for Eagle Labs.
• The guarantee arrangement was established for a period of 5 years.
• A total of £120,299.54 was paid out between 1 March 2018 and 9 October 2020.
• The original underwriting figure mentioned in the request was £324,062.50.
• The response confirmed that all requested information was sent.

Data Disclosed

• £324,062.50
• £41,033.87
• £120,299.54
• 1 March 2018
• 1 June 2019
• 9 October 2020
• 8 October 2020
• 30 October 2020
• 5 years
• 1507665
• 824965

Original Request

Further to request 824965 in May 2019. Can the Department please provide a full update as to how much of the £324,062.50 underwriting figure has been paid out to date, including the original £41,033.87, covering the period 1 March 2018 to 1 June 2019.

Data Tables (1)

Full Response Text

Freedom of Information Co-ordinator 1st Floor, St Georges Court Upper Church Street, Douglas Isle of Man IM1 1EX

Telephone: (01624 682381) Website: www.gov.im/ded Email: anthony.waker@gov.im

Our ref: 1507665 30 October 2020

Dear ###

We write further to your request which was received on 8 October 2020 and which states:

"Further to request 824965 in May 2019. Can the Department please provide a full update as to how much of the £324,062.50 underwriting figure has been paid out to date, including the original £41,033.87, covering the period 1 March 2018 to 1 June 2019."

Our response to your request is as follows: As previously confirmed in the answer to FoI request reference 824965, the Department entered into a joint agreement with Barclays Bank and the Chamber of Commerce to provide a financial guarantee in respect of Eagle Labs for a period of 5 years. Under that guarantee arrangement, between the 1st March 2018 and the 9th October 2020 a total of £120,299.54 has been paid.

Please quote the reference number 1507665 in any future communications.

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2. Whether we are justified in refusing to give you the information requested.
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I will now close your request as of this date.

Yours sincerely