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Government getting $10 million loan to assist in the COVID-19 vaccination campaign

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Posted: Sunday, April 11, 2021. 9:09 pm CST.

By Benjamin Flowers: The Government of Belize is taking out a $10 million (US$5 million) loan from the InterAmerican Development Bank to buy enough doses of the COVID-19 vaccine produced by AstraZeneca, and roll it out to just under one-third of the population.

According to Minister of Health and Wellness Hon. Michel Chebat there are two components to the loan: the first is a US$2.31 million loan guarantee from the IDB to purchase 238,800 vaccine doses, good for 119,000 or 30 percent of Belize’s population; and the second is for US$2.862 million to ensure vaccine availability, including strengthening logistics distribution, cold storage chain, and a communication campaign to promote getting vaccinated.

The 25-year loan has a repayment scheme of 39 equal payments of about USD$128,205.13, paid twice per year. Belize will also have a grace period of 5 years 6 months before it begins to repay the loan.

The loan follows Belize’s initial US$383,000 downpayment for the United Nations COVAX facility last year when the government signed an agreement with the IDBIDB to guarantee the balance of US$2.137 Million, which was due by March 31st.

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