Loan signed with I.D.B. for U.S. $25 million

During a brief contract signature ceremony this morning, the Government of Belize officially wrapped up more than a year of negotiations with the Inter-American Development Bank to secure twenty-five million U.S. dollars of what has become a steady stream of concessionary financing for Belmopan. The twenty year loan carries an interest rate of five point seven two percent and includes a five year grace period on principal repayment. It is expected that to be closely followed by a similar facility from the Caribbean Development Bank for another twenty-five million dollars. According to government’s financial advisors, the monies represent the international community’s commitment to help Belize keep its financial house in order.

Joseph Waight, Financial Advisor, G.O.B.