Scrutiny committee looks into financing of Manchester Life project as PM promises ‘full transparency’A £55m loan to Manchester City’s Abu Dhabi owner will be investigated as part of a review into a fund for housing projects while Andy Burnham was…
A £55m housing loan given to Manchester City owner Sheikh Mansour bin Zayed al-Nahyan is facing an official investigation. The Greater Manchester combined authority overview and scrutiny committee, chaired by Councillor John Leech, will review the financing of the Manchester Life development project granted during Andy Burnham's mayoral tenure.
The three loans granted in 2017 have been repaid in full, but the authority has not disclosed interest rates or eligibility reasons. The inquiry follows revelations of an unrecorded meeting Burnham had with Manchester City's owners at Etihad Stadium shortly before the loans were granted.
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