Previous Thread
Next Thread
Print Thread
CDB to give Belize US$15 million loan for COVID-19 pandemic #542458
05/19/20 11:01 AM
05/19/20 11:01 AM
Joined: Oct 1999
Posts: 81,141
oregon, spr
Marty Offline OP

Marty  Offline OP
o far, Belize's costly COVID-19 response has received not a single dollar of international funding. The Prime Minister says he hopes 6 million plus from the IDB will come at the end of this month.

Well, the Caribbean Development Bank has announced that it will also contribute. A release says the CDB is making emergency loans to seven Caribbean countries for a total of $66.7 million US dollars. Antigua and Barbuda will get US$13 million, Belize will get US$15 million, Dominica will get US$2.5 million, Grenada will get US$5.9 million, Saint Lucia, US$10.8 million, St. Vincent and the Grenadines US$11.3 million, and Suriname US$8.2 million.

The funds will be to respond to COVID-19 and keep critical government services and operations running, The emergency loans are being made under CDB's most concessionary terms, will, quote, "provide vital liquidity and increase governments' fiscal space to allow these countries to promptly meet their urgent financing needs without diverting resources away from critical social expenditures or health emergency needs."

According to CDB projections, many of these countries will fall into recession this year.

Real GDP is expected to decline in Belize by 5.4%. The release concludes, "the social impacts of the COVID-19 pandemic will be significant, stemming from an increase in unemployment, and loss of income and livelihoods, as well as substantial disruptions of social services, with women, female heads of households and children, persons with disabilities, indigenous peoples, and migrants as the most vulnerable groups."

Channel 7

Re: CDB to give Belize US$15 million loan for COVID-19 pandemic [Re: Marty] #542493
05/21/20 04:15 AM
05/21/20 04:15 AM
Joined: Oct 1999
Posts: 81,141
oregon, spr
Marty Offline OP

Marty  Offline OP
CDB Loan Not Cash In Hand

Earlier this week we told you about emergency loans that the Caribbean Development Bank is making to seven Caribbean countries. $15 million US is earmarked for Belize - but the Financial Secretary today explained that it is not cash in hand, but debt relief:

Joe Waight- Financial Secretary

"The Board of Directors of CDB met earlier this week and approved a lone to the Government of Belize. The loan will then be used to meet our debt service payments to CDB for the next year. So, it's a refinancing in a sense, along the term loan to give us immediate relief for this year. The total amount is about USD$15 million for this. It will give us a break. It is not money in hand that we can spend elsewhere. It's basically a refinancing of what we would have had to pay CDB this year. We really do hope that the other IFIs could take a lesson, a page out of CDB's book."

Channel 7

Portofino Resort- Now with a new BEACH BAR!!
Click for excellent scuba lessons with Elbert Greer!
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
Maruba Beach Klub and Spa is the premiere Secret Beach spa and restaurant located on the crystal blue waters of the Caribbean Sea at the center of Secret Beach, Belize
First Class Accommodations for the Budget Traveler
First Class Accommodations for the Budget Traveler

Things to do
Specials & Events
SPTB Calendar of Events

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites
To Get Your Questions Answered

Event Guides
Event Calendar
Specials & Events
Things to Do
Cayo Event Calendar

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Belize Happy Adventures
Conch Creative
Caribbean Culture & Lifestyle
More Blogs...
Search thousands of Belizean-only websites
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We handle all aspects of the purchase of your Real Estate in Belize. From in depth property searches to your final closing.
Click for Ian Anderson's Caves Branch, Welcome to a World of Adventure
Lil Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
ShoutChat Box
Who's Online Now
0 registered members (), 93 guests, and 0 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Most Online7,413
Nov 7th, 2021 HELP! Visitor Center Goods & Services San Pedro Town Message Board Lodging Diving Fishing Things to Do History Maps Phonebook Belize Business Directory Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.

Powered by UBB.threads™ PHP Forum Software 7.7.1