New loans approved by World Bank

New funding for development projects has been secured from the World Bank. Meeting on Friday at the Bank’s Washington, D.C. headquarters, Minister of Budget Planning Ralph Fonseca signed a thirteen million dollar loan agreement for street and drainage improvements in the nation’s municipalities, as well as work on the upgrading of the Boom Hattieville Road. Details were also finalised for an eighteen million dollar loan for secondary education projects, which will go before the bank’s board of directors in March. The World Bank discussions followed a successful one-day meeting hosted by the IDB at which a number of potential donors expressed interest in providing long-term finance to help Belize rebuild its economy in the aftermath of Hurricane Keith.