Venezuela's Petrocaribe fund may be a deep source of spending for capital projects, but for budget support, the Barrow Administration, like those that preceded it, continue to turn to the Taiwanese. Government has tapped Taipei for 20 million dollars in budgetary support in this fiscal year.
And, so, today in Belmopan, Taiwanese Ambassador David Wu, presented a cheque for $5 million US Dollars to Prime Minister and Minister of Finance and Economic Development, Dean Barrow.
According to a press release, the cheque is a "grant from Taiwan for the year 2014 under the Bilateral Cooperation Program." The purpose of the grant is very general, it is to quote, "help in the development of Belize."
Today at the handing over the Taiwanese Ambassador explained that it is for infrastructural support:
H.E. David Wu - Taiwan Ambassador to Belize
"We have seen the apparent progress for your beautiful country in terms of the infrastructure development. It's a very huge progress not only in Belize City but countrywide and I really admire the capable leadership of your government and we hope that we can continue to enjoy the very close partnership with Belize in the future."
A press office release says Government will use the funds to cover a part of the expenditures on key infrastructure projects, including the Belize City Southside Poverty Alleviation Project Phase II, the extension of the Southern Highway to Jalacte in the Toledo District, and for the new crossing of the Macal River in San Ignacio/Santa Elena.