Belize Borrows $20 Million U.S from CDB for DFC

The Briceño Administration is borrowing twenty million U.S. dollars from the Caribbean Development Bank for the Development Finance Corporation (DFC). According to Prime Minister John Briceño, the new line of credit will support DFC’s ongoing lending program. The prime minister broke down the figure during today’s Sitting of the House of Representatives in Belmopan. He explained how the twenty million U.S. dollars will be utilised, while noting that the institution has loaned over a hundred and twenty million dollars over the last four years.

 

Prime Minister John Briceño

“This motion is to seek this honorable house to approve the government guarantee of U.S. twenty million dollars. This new line of credit is to support the DFC’s ongoing lending program. This is the breakdown that we want to do. For the productive sector, for small businesses we want to set aside eighteen million Belize dollars, for residential mortgages nine million dollars, for education nine million dollars for renewable energy and energy efficiency, four million dollars. I am sure the minister of education will be the first to tell you that there is a tremendous need there is for education assistance to our young people. We have a lot of very intelligent students and in some instances, it is impossible for them to make it just from their own resources. As a government we have been providing millions of dollars.”