(1) A person may make an application to the Board for a loan from the Fund for a Government approved capital project.
(2) An application under subsection (1) must be in writing and accompanied by information relating to the Government approved capital project.
(3) The Board may, after consultation with Cabinet, grant or refuse an application made under subsection (1).
(4) In deciding the grant or refusal of an application, the Board shall, after consultation with Cabinet, take into consideration the credentials of the person and information relating to the Government approved capital project.
(5) The Board may, after consultation with Cabinet, grant a loan —
(a) on terms and conditions as to interest, payment, security or otherwise including the condition that the loan amount must be utilized for the Government approved capital project;
(b) with a precondition to the disbursement of the loan that the person must first invest in the project a minimum percentage of the total development cost of the Government approved capital project;
(c) designating a Government agency as the facilitator of the loan and authorizing the transfer of the funds of the loan from the Fund to the facilitator.