The £13.8m is in addition to the project’s current budget of £38m.
It is intended to ‘address the financial impacts to date of the Covid-19 pandemic and of the additional site remediation and quay wall protection works required’.
The work was originally planned to be completed this February but was beset by delays, with it now due to be finished next year.
Mr Baker said in April that if necessary he would return to Tynwald for extra funding, and also that more delays could not be ruled out.
He cited the impact of the pandemic on productivity in the UK’s construction sector.