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Parliament to approve loan motions for Caracol Road, Coastal Highway and Road Safety Project

Posted: Friday, March 15, 2019. 10:21 am CST.

By Aaron Humes:In addition to the first and second reading of the General Revenue and Appropriation Bill due later today, the House of Representatives will also be asked to consider and approve three loan motions relating to infrastructure.

The Caribbean Development Bank has approved a loan of $73.15 million Belize dollars for reconstruction of the Coastal Highway between La Democracia, Belize District, and the Stann Creek District outside of Dangriga, and a second loan of almost $12 million Belize dollars for another road safety project following up on the first established a few years ago. 

 Also, the Kuwaiti Fund for Arab Economic Development is loaning 6 million Kuwaiti dinars (US$20 million; BZ$40 million) for the second phase of construction of the Caracol Road; the first phase is being sponsored by the OPEC Fund for International Development (OFID). 

Two amendment bills relating to international business companies and financial services will be introduced, and another relating to qualified retired persons not being allowed to invest in Belize will be read a second time.

Three-term Ombudsman Lionel Arzu is also applying to be reappointed.

 We’ll have more from the meeting as it happens.

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