Speaking to ESPNcricindo, Skerritt said the ECB loan, which also became the subject of an ICC inquiry, had nothing to do with CWI's decision to send its players to England.
"It was just a matter of when the tour would take place and if the ECB could assure the CWI medical experts that the health risk would be minimal to ensure the safety of our players and staff," Skerritt said on Friday.
"Money had nothing to do with our final decision to make this tour. Holding out a hand for a pay-off is not the way CWI does business."
With the pandemic worsening the financial condition of CWI, it had also approached the ICC in April for a loan but was eventually bailed out by the ECB.