7 News Belize

A Capital Infusion For DFC
posted (October 18, 2024)
The DFC is receiving their ninth consolidated line of credit from the Caribbean Development Bank, this time for 20 million US dollars. This money will assist in providing finance for priority sectors, such as MSME credit, student loans, low income housing, energy efficiency and renewable energy.

But the Leader of the Opposition zeroed in on the student loans, saying that most of the students who need the funds can't offer up any collateral.

Shyne Barrow, Leader of the Opposition
"While the Opposition supports capitalization of the DFC, while the Opposition would look forward to the capital injection in these sectors, we have great reservations when it comes to the PUP and the DFC. Could be why we don't have an auditor general, could be why we had an auditor general office not functioning, I'll get to that on the next motion. But this government is not to be trusted. When you go now to the capitalization, they mentioned education. For the last four years, I have come into this Honorable House and I have lamented as to the challenges that Belizeans are facing, in particular when it comes to education. So the Prime Minister talks about $9 million which will be made available in this loan to the DFC. However, who will qualify for for the nine million dollars? The people that need educational assistance, the students that need educational assistance, they do not have any land for collateral. Their parents cannot co-sign for the facility. And I've told the minister of education about this in this honorable House politely over and repeatedly, there needs to be adjustments."

Francis Fonseca, Minister of Education
"The point that is being made about the DFC, absolutely yes, valid, legitimate points but the DFC is absolutely aware of these issues and they are working, as the prime minister rightly pointed out, they work with their clients, they work with these targeted groups to try to address any concerns that they have, any issues. How can we, that's the entire spirit in which they operate, how can we work with you to make it easier for you to access this credit?"

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