7 News Belize

SUGAR MONEY
posted (November 30, 2010)
Last week, a special memorandum of understanding was signed on Tuesday and house of representatives held a special sitting on Thursday to approve an emergency loan of 10 million dollars to Belize Sugar Industries. The money was supposed to have been disbursed on Monday pending a waiver granted from the international financiers who have first call on BSI's revenue stream.

But when we checked with senior staff in the Prime Minister's office up to this afternoon, the waiver still had not come through so the loan still had not been disbursed which mean that the farmers still have not gotten their third payment plus interest.

As we've reported over three million dollars of the loan will go directly and immediately to farmers in the form of the third payment.

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7 News Belize