Marshalls government works to bail out main utility

MAJURO Marshall islands - The Marshall Islands is counting on a $14 million loan from the Asian Development Bank to stabilize its struggling national utility company. But whether the loan - an application for which has been in the pipeline since late last year - will be approved in August depends largely on the fiscal reforms the Marshall Islands government makes.The loan is viewed as key to releasing the Marshalls Energy Co. from high interest debt freeing funding to focus on fixing its aging generators and substantial losses in its distribution system. If the ADB backs the loan it will be used . . .

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