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Aug 29, 2011

Chamber of Commerce adds to B.S.I. Buyout discussion

Weighing in today on the Banco Atlantida proposal for a buyout of Belize Sugar Industries Limited was the Belize Chamber of Commerce and Industry (BCCI). It issued a press release saying that it recognizes the need for comprehensive reform and new investment. The BCCI says it supports the move to have the industry privately owned and that government should not inject any more public funds since there is funding from the European Union, Fair Trade and other commercial financing. The Chamber also calls for G.O.B. to ensure that Banco Atlántida’s loans to the cane farmers would not come with terms and conditions that could be anti-competitive in comparison to other lending institutions.  Other conditions include that Banco Atlantida should not be given special tax accommodations.

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