PM Briceño Breaks Down U.S. $75 million from Taiwan

Prime Minister John Briceño

There’s another loan that Belize is seeking, this time, from the Government of Taiwan for seventy-five million U.S. dollars. The loan will be provided by the Export-Import Bank of Taiwan. A portion of the monies will be used to offset the budget deficit for the fiscal year 2022-2023, as Prime Minister Briceño explained.

Prime Minister John Briceño

“This loan is being granted on the highly concretionary terms from the Export-Import Bank of the Republic of China, Taiwan and it is to be used for general financing purposes. The total loan proceeds shall be disbursed over a four year period, starting with the forty two million dollars of U.S. in 2022, and thereafter eleven million U.S. annually from January first 2023 to December first 2025. Further details as to the terms and conditions of this loan is set out in the loan motion  that we have alertly presented to the members. The proceeds of the loan will be used for general budgetary support, as I have presented in and as I have stated in my presentation earlier this year, so we have already said that this loan was coming; it’s not nothing new. But we couldn’t  present the loan motion then because we were still working out the legal documents, so this loan has 42 million dollars is the first disbursement of the 75 million dollars total that Taiwan has agreed to lend Belize for budgetary report, so again the first disbursement of this loan  for this year has now been committed to finance the overall budget deficit for physical year 2022 to 2023. Again, this is no news you can go back to the records on my presentation, and you’ll see I did announced. It will not be used to fund any new recurring budget spending or fund any new capital programs.”