The Dutch agreement in its first version to be presented for the Althing, would mean in case of being approved, that Netherlands would lend Iceland €1.1 billion earmarked for repayment of the estimated liabilities for the Icelandic Depositors' and Investors' Guarantee Fund "(Tryggingarsjóður)" to the Dutch depositors in the Icesave branch of Landsbanki. The reason behind the loan was that the liquidation of Landsbanki was expected to drag on for up till seven years, and without a loan it was highly unlikely the "Tryggingarsjóður" would be able to raise the necessary money within the time limits of Directive 94/19/EC, because the guarantee fund only had ISK 10bn of funds per October 2008 to meet the pile of claims for minimum deposit guarantee repayments equal to ISK 600bn. While no public comment was made concerning the content of the Icelandic discussions with the UK, it was widely assumed that the UK would offer a similar type of loan to cover the liabilities of the "Tryggingarsjóður" towards the British depositors in the Icesave branch of Landsbanki.