Will Bank lend directly to businesses?

The IDB is also making loan facilities available to local businesses, presumably at favorable and equally competitive terms as other lending institutions.  While the proposal is fresh on the table, Aikman says details are yet to be confirmed in respect of an acceptable payment plan.

Kim Aikman, CEO, Belize Chamber of Commerce & Industry

“As you noticed, the interest rates were not disclosed.  I believe that they probably would be, yeah, a little easier, the terms.  As he [the presenter] kept insisting that they are a development bank.  They are here for development and for impact and I think that’s where we need to focus and look.”

Reporter

“The suggestion is that they’re not in the grant business.”

Kim Aikman

Kim Aikman

“No, it’s not a grant.  It’s a loan.”

Reporter

“And the payment terms can be local currency, in Belize dollars.”

Kim Aikman

“Well I think all that has to be ironed out, how they’re doing it.  The question was asked whether we would have to repay in U.S dollars but it’s something, it’s new so all the little nitty-gritty still has to be ironed out given the regulations that we have with U.S. currency.”