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Home » Social Issues » Cabinet: Taiwan lending Bze $25 million U.S. for debt relief
Dec 14, 2005

Cabinet: Taiwan lending Bze $25 million U.S. for debt relief

In news from Cabinet, that executive body has gotten a new loan from Taiwan, approved a multi-million dollar deal for the Southside of the city, and made a step towards protecting those with HIV/AIDS in the workplace. According to a release from Belmopan, at the sitting of the House of Representatives on Friday, the Musa administration will put forward a motion detailing an arrangement with the Republic of China on Taiwan for twenty-five million U.S. dollars over the next two years. That the money will be handed over in two payments: fifteen million next month and the remaining ten a year later. Negotiated by Minister of Home Affairs Ralph Fonseca, G.O.B. says the money will be used for “balance of payments support.” What that means is Taiwan is cementing its reputation as Belize’s financial angel, stepping in to provide long-term, low-interest monies to support payments of our foreign debts and make sure the country doesn’t run out of hard currency. The terms of the loan are repayment over the next twenty years with a three year moratorium. The money is in addition to another five million dollars in grants that Taiwan has already promised to give Belize.

Meanwhile, Cabinet has also approved a forty-seven million dollar Southside development project designed to address poverty in Port Loyola, Lake Independence, and Collet with plans for better drainage, streets, sidewalks and proper housing. And while the feasibility study is in hand, the money isn’t and we understand the House of Representatives will also be asked to consider approval for the Musa administration to “consider a loan for the investments.”

In regards to the fallout from the registry scandal, Belmopan has put out any fires of speculation that monies will be exchanged following the quashing of the deal signed between G.O.B. and BELIPO. Quote, “the Prime Minister as Minister of Finance has drawn a line as of October nineteenth 2005 that when the arrangement ended…both parties released each other from liability, claim or demand.”

And finally, Cabinet has formally approved the National Policy on HIV/AIDS and the National Policy on HIV/AIDS in the World of Work. Essentially, the policies will seek to protect infected or affected persons from being discriminated in the workplace.


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