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Home » Miscellaneous, People & Places, Politics » Senate Approves C.D.B.-B.E.L. Loan Motion
Oct 9, 2019

Senate Approves C.D.B.-B.E.L. Loan Motion

A project to electrify Caye Caulker Village will cost the Belize Electricity Limited some thirteen point six million dollars. The monies are being borrowed from the Caribbean Development Bank on certain conditions including that the loan shall be guaranteed by the Government of Belize. The objective is to improve electricity reliability and increase capabilities on the island. The loan motion was approved by the House of Representatives as required by law and today it was debated and approved by the Senate.

 

Mark Lizarraga

Mark Lizarraga, Senator for Private Sector

“While we are connecting Caye Caulker to the national grid there are many people in San Pedro who still don’t have electricity and I am talking about San Pedro Town. On the interest terms you are seeing one and a three commitment fee and a one percent well now you are becoming in the range where I think Belizeans should have been invited to participate in the interest of these papers because you are at around five and half percent. I think something like this could have been secured from local funding to mop up some of the excess liquidity that I have in the system and give Belizeans an opportunity to regain some confidence in at least local investing.”

 

Michael Peyrefitte

Michael Peyrefitte, U.D.P. Senator

“Really did I hear Senator Lizarraga correctly? This is a motion where I imagine nobody in their right mind could have any problems with. You can’t just commend the government for this motion you have to say, we are happy for Caye Caulker but what about San Pedro. It is like I keep saying that this government could find the cure for cancer and his response would be ‘what about aids’. Can’t we just be commended and leave it at that? You can’t quarrel with what the government is doing with B.E.L. you have to say but government really own majority of B.E.L.? Why do you have to pick at that? Why didn’t you borrow the money locally? Come on, man. How can anyone be against something like that? You just have to find something to complain about?”


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