Close to $200 Million in Loan Motions

Besides the ten loan amendment motions, the Briceño administration also introduced several new loans: a fifty-eight-million-dollar energy loan from the International Bank for Reconstruction and Development, a twenty-three-million-dollar loan from the International Development Association (IDA), seventeen million dollars from the Government of Taiwan, and six point two million dollars from the Caribbean Development Bank. The opposition has criticized this borrowing spree, pointing out that it comes just before this year’s general election. Here’s Prime Minister Briceño with more on the twenty-three-million-dollar IDA loan.

 

Prime Minister John Briceño

“I think you should clap to member for Collet because you all will benefit some day when you get into government. Someday, we don’t know when, because this funding is cheap money, in some instances, zero interest rates, you don’t pay anything for ten years and then twenty years. It is money that could really help this country to develop. After two years of collective advocacy, now Belize was able to successfully gain eligibility for twenty-three point five million U.S. dollars for annually with concessionary financing from IDA. Of the World Bank. Because of the importance of this loan and it has nothing to do with whether elections will be held now, or the next month or the other month, the government continues, the work of the people never stopped. That is why I am bringing these loans right now.”