Belize Approves Three Loans from Inter-American Development Bank Despite Opposition
The Government of Belize has approved three loan contracts with the Inter-American Development Bank (IDB), a move that was opposed by some senators, who noted that no additional details were annexed to the loan contracts that they were given the opportunity to review. The first loan of $16 million Belize dollars will be used to fund the creation of a Digital Single Investment Window and A Foreign Trade Single Window to improve and facilitate investment in Belize. The second loan of $10 million USD is to provide digitalization across the government and within the private sector, while the third loan of $15 million USD is to fund climate-resilient farming across the country. One senator criticized the trend of excessive borrowing by the current administration, while others supported the loans, saying they were for the right cause.
