UP TO $260m is set to be made available to lift the TCI out of the red, the Governor announced on Thursday.

The cash – from commercial lenders – is part of a long-awaited rescue package to help the country achieve a fiscal surplus by March 2013.

The British Parliament has until February 17 to consider sanctioning the loan guarantee.

Governor Gordon Wetherell said the move would help achieve the necessary “milestones” before an election date can be set.