Kuwait Fund finances new road to Guatemala

It’s the kind of loan that governments like: low interest, long term and gracious grace period. The one signed today, for almost ten million U.S. dollars from the Government of Kuwait, will help finance the construction of a road connecting the Southern Highway to the Guatemalan border. Signing for Belize was Prime Minister Said Musa, while Bader Al-Humaidhi did the honours for the Kuwait Fund for Arab Economic Development. Total cost of the project is forty-six million Belize dollars, with work scheduled for completion by the end of 2005. The loan carries a twenty-year term, four percent interest rate and four year grace period. Other projects financed by the Kuwait Fund include a section of the Southern Highway and expansion of the Philip Goldson International Airport.