Belize has gotten a loan approval for the resurfacing of the Caracol road. The announcement came in the Prime Minister's New Year's address, when he said that he had just received a letter from the Director-General of OFID, which is the Organization for Petroleum Exporting Countries' Fund for International Development.
The letter confirmed the approval of a US $40 Million financing package to construct the road, which leads to the Caracol Archaeological Reserve - the largest known Maya archaeological complex in Belize. The reserve is accessible currently through the road, currently unpaved, which originates in Georgeville village, Cayo and measures roughly 46 miles from the George Price Highway to the archaeological site.
In his New Year's Day address Prime Minister Dean Barrow said his government had thought it would need several partners to fund a project of this magnitude, but that it was thankful that OFID has come through. The infrastructural development is expected to attract more revenue in overnight tourism and encourage the private sector to make new investments along the route, with construction of lodges and villas that will serve tourists who seek jungle adventure away from all the noise and bustle of busy city and municipal activities.
Barrow also mentioned that a contract has been awarded for the resurfacing of the Placencia main artery from the airstrip to the point, and that the Hopkins Main Street is also undergoing a $2.6 M upgrade.
Work also continues to repair and widen the George Price Highway between Three Flags and Santa Elena, Cayo.The Reporter