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After the meeting finished, the Chairman of the Subcommittee, Godwin Hulse, spoke with us on the project's status with Government. Here's how he explained it:

Hon. Godwin Hulse - Chair, Cabinet Sub-committee
"This is a Cabinet Subcommittee meeting; it's a combination of Cabinet Ministers and the technical people who work on the data. We had the meeting this morning, it's just concluded - it was to look at where we are with the State Bank project - as you know Mr. Mike Feinstein has launched this project - there was a press conference and there's a lot of information. The technical team is been sifting through this and so we made tremendous progress today. Earlier this week - there was the NEAC process where it looked at the environment, as you know I have laid out, with the support of the Cabinet a 5 prong approach to looking at investments and I'll repeat them -

Socially and economically viable and acceptable and legally doable.
Revenue to government
Foreign Exchange to the Country
Creating meaningful jobs
Environmental sustainability and preservation of our natural heritage

Those are all important and are basically the 5 parameters. The environmental portion has been looked at - I understand the ECP is being prepared. I just had a conversation with Mr. Feinstein because with respect to him, I wouldn't do the media and then he hears it on the news, so I just called him to ask him his permission because we still have meet with Mr. Feinstein for a few more data to complete the economic side of the process and then we go to Cabinet."

Daniel Ortiz
"Our indications from the chairman of NEAC was that it was still ongoing, the discussion needed to continue but they hadn't green lit it as yet. Has, as the chair of the sub-committee, can you tell us if NEAC has completed that process and did they sign off on it?"

Hon. Godwin Hulse
"Yes, they've completed the process but they are still preparing the final report and there are a few little things they have to do and that looks fairly positive as I understand it. But remember, that is one component, there are other components and because in Belize we have not developed this process - in the past it was kind of haphazard. We are trying to establish a proper process that every investor understands so there is investor confidence, they know when they come to Belize - what is required. Mr. Alamilla for the environmental side has been pushing certain issues which are absolutely important. Mr. Heredia from the tourism side with respect to tourism projects, the other minister in respect to culture, I am from the labor side, we're looking at the Human Development side as well because that's also important too so that we can have a comprehensive package that we are satisfied with."

Daniel Ortiz
"At this point, the Feinstein project is all-go from government - is that what you're telling us sir?"

Hon. Godwin Hulse
"No no, that's not what we're saying at all - what we're saying and just so that there isn't any confusion; when a project comes to government - they say okay in concept this is good, Feinstein project has that. Then we look at all the aspects, it has to meet these criteria - they're saying the environmental aspects look good - now we are finalizing the economic aspects to see how good that looks; within the parameters as I said - that is still to be finalized, there's bits and pieces of information outstanding there. When we get that and that looks good then we are pretty good."

We must stress that even though the Cabinet Subcommittee has looked favourably on the Stake Bank Project so far, the project isn't completely cleared.