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Apr 21, 2023

D.F.C. Borrows Twenty Million Dollars from S.S.B. for Mortgage Finance Program

Prime Minister John Briceño

The Development Finance Cooperation (D.F.C.) is seeking to borrow twenty million dollars from the Social Security Board to further finance its ongoing Mortgage Finance Program. Today, the Government of Belize sought the approval of the House of Representatives via a loan motion to have D.F.C. borrow the sum from S.S.B. Through its Mortgage Finance Program, D.F.C. has been providing housing loans with flexible terms and payments to middle income families, says Prime Minister Briceño. He noted that the value of the residential sector has increased by more than fifteen million dollars over the last year, primarily because this program initially targeted public officers.


Prime Minister John Briceño

“As we said in Plan Belize, we would create an enabling environment to allow for affordable housing in Belize. Our goal is to create that environment to see ten thousand homes built. As of March thirty first 2023 DFC residential loans portfolio comprises eight hundred and thirty five loans valued around thirty-nine million dollars. The residential sector has expanded rapidly since the end of 2020. It grew from twenty-four million at the end of 2020 to over thirty-nine million dollars at the end of fiscal year 2023. That is a sixty-four percent increase in a little over two years. This was mainly due to the introduction of the We Serve Program post COVID-19 initially targeted towards public officers to assist them with access to affordable financing to build their homes. This program has now been extended to all eligible Belizeans.”


Moses “Shyne” Barrow

Moses “Shyne” Barrow, Leader of the Opposition

“I would like to point out a few things. I am delighted that the Prime Minister has been paying attention and listening to what the opposition has been saying as to provide housing solutions. The false promise of giving ten thousand houses is certainly nowhere near to be delivered upon. I think they have given out a hundred and fifty houses. Mesopotamia, Collet, Albert and Corozal North have not gotten any the last time I checked. But I am a strong proponent of creating a housing solution that allows for Belizeans to have access to financing.”

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