Why an SPV for a Private Company to Build Public Admin Campus?
According to Second Deputy Party Leader Beverly Williams, the framework for a special purpose vehicle is already in existence. It is the same structure that was established for the Belize Infrastructure Limited under the Barrow administration to oversee the construction of the Belize City Civic Center, as well as the Eleanor Hall Building.
Beverly Williams
Beverly Williams, 2nd Deputy Party Leader, U.D.P.
“I think, most importantly, that a structure exists under the Special Purpose Vehicle is already there, the composition is there. But this new structure that they are using, we are not aware. There is not enough evidence on how that is structured and so that brings into question what it is that they are doing and why everything appears so secretively. The interest rate that is being used for the loan, five percent, is also a big concern because the rate of return, the benchmark for social security is at seven percent. So why five percent.”
Shyne Barrow
Shyne Barrow, Leader of the Opposition
“If this government claims such robust stimulus in the economy, such robust GDP growth, why are you touching the people’s social security money? You should have that money available. The commercial banks here are liquid. The governor of the Central Bank just gave all his statistics, they are liquid. We have many bilateral partners that are giving funds, but more importantly, the prime minister said he’s got the money. With the highest cost of fuel ever, he has grown the economy on the backs of Belizeans, so why are we going to social security?”
