A deal has been struck that could lead to the completion of the stalled $3.5b Baha Mar casino resort in the Bahamas.

On Wednesday, Prime Minister Perry Christie delivered his 2016-17 budget to parliament, during which he announced that a “framework agreement” had been reached between Export Import Bank of China (EXIM), the unfinished property’s largest creditor, and China State Construction Engineering Corporation (CSCEC), the parent of the project’s main contractor.

Christie said the agreement provided “a pathway forward” for Baha Mar’s completion by establishing a framework for “putting in place the financing required for completion of the project” and for CSCEC subsidiary China Construction America (CCA) to “remobilize and restart construction to finish the project as expeditiously as possible.”

The Bahamas Tribune reported that talks were now underway between CCA and the resort’s court-appointed receivers on the precise terms that would allow construction to recommence and to establish a firm timeline for the completion of work.