7 News Belize

Implicit Risk Assumed By DFC with Tourism Loans
posted (July 29, 2020)
And while - for better or worse - tourism is the bedrock of the Belizean economy - in a time like this, lending money to this sector is far from a sure thing. Risk is intrinsic to this lending - and Goff said that's what development banks must do right now:

Reporter
"Is there any guarantee made to the DFC that you will not lose out on this 10 million dollars once put on the table and made available as credit. Is there any sort of guarantee or are we playing it by the air and we'll see what happens?"

Natalie Goff, General Manager, DFC
"While I would love a guarantee, I don't think there is any such thing in this time. And so what you are asking you probably have to go to the good Lord above to get that sort of guarantee, but we are not playing it by air. We are doing our due diligence as I mentioned those who will benefit will be those who were in good financial standing prior to Covid and that is how we mitigate risk, but we are a financial institution and financial institutions take risks."

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7 News Belize