The Royal Bank of Canada has provided an additional C$30m in funding for the construction of Arawak Cay Port in the Bahamas.

The loan, with C$20m in equity injected by the government and the private sector, will facilitate the financing needed to construct the port.

The C$70m container port, being built by Arawak Cay Port Development Company, will move freight from downtown Bay Street.

The port will be leased for 45 years after its completion in June 2011.

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