C.D.B. loan for Placencia Road finally approved
Tonight the residents of the Placencia Peninsula have something to cheer about. The Caribbean Development Bank has approved a twelve point six million U.S. dollar loan to upgrade and pave the Placencia Road. The twenty-two year loan carries an interest rate of six point two five percent and five year grace period. Work is slated to begin in the first quarter of 2007. The C.D.B. also approved a twenty-five million U.S. dollar policy based loan to support government’s efforts at debt restructuring and implementation of corrective financial measures.
