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Cabinet approves further loan financing for vaccines, plans to incentivize lending and revised drug regime

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Posted: Thursday, March 24, 2022. 4:06 pm CST.

By Aaron Humes: At Cabinet’s meeting this week, it was agreed that Belize will finance $12.4 million from the International Bank for Reconstruction and Development (IBRD), an arm of the World Bank through the International Monetary Fund (IMF) to boost the health system through the COVID-19 pandemic and response to future emergencies.

With excess liquidity of around $770 million, the Executive has decided to take measures to incentivize lending by banks to those sectors earning foreign exchange and stimulate economic activity.

Also coming before the House is a further amended Cannabis and Industrial Hemp Licensing and Control Act to provide for the composition of the Commission, the imposition of additional taxes on sales of cannabis and the establishment of a special appropriation fund for the allocation of tax revenues to be used for public awareness campaign programs, rehab programs, social and sporting programs, and school assistance for marginalized children.

Finally, Cabinet notes that Belize inches ever closer to half its population having at least one dose of COVID-19 vaccine, with 215,089 or 49.9 percent so recognized. Of these, 208,782 are fully vaccinated, including 25,968 youths aged 12 to 17. More than 42,176 persons have received booster shots.

 

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