Loan approved for Cultural Infrastructure Project

A credit agreement between the Government of Belize and BANCOMEX was signed in Belmopan this morning to partially finance the Belize Cultural Infrastructure Project. The loan agreement for five point three million U.S. dollars will be used to transform the Bliss Institute into a contemporary theatre, renovate the old Government House now known as the House of Culture, convert the old Belize City prison into a museum and complete the work on the National Museum in Belmopan. The financing was obtained through the San Jose Accord Facility, which provides credit to Belize arising from the purchase of fuel from Mexico. Total cost of the project is estimated at ten point four million U.S. dollars. Government’s contribution includes four point four million U.S. dollars in the value of buildings and some point seven million dollars in cash resources.