Often, the thought of taking on loans can be distressing but the Development Finance Corporation say that with this year's line of credit, it doesn't have to be. The Caribbean Development Bank loan the DFC $21 million Belize dollars for education and private sector loans. It was announced today at the launch of the 7th consolidated line of credit at the Radisson. The general manager of DFC told us how this line of credit will benefit you.
Diedra Clarendon, CDB Representative
"This 7th consolidated line of credit will provide about 2.5 million US dollars for student loans and those pursuing tertiary and technical education. This includes an allocation of about half a million dollars to fund students from financially disadvantaged households who have the academic capability and qualifications, but are constrained by low and irregular income and the inability to meet security requirements for the loan."
Natalie Ewing-Goff, General Manager, DFC
"CDB has provided 6 previous consolidated line. That's separate from the other lines. But this is the first time we are actually publicizing, getting out there, telling the public what we have, what DFC is doing. You've heard all the stories in there. In line it's actually 21 million Belize dollars and DFC is a development bank, so our primary purpose is to fund the activities within the productive sector. And so about 8-10 million dollars are provided for that sector in terms of what would be, agriculture, tourism, anything that creates employment. You heard Mr. Madrid, he got a loan from DFC last year. He was a sole entrepreneur and to date 2 years later he has employed 6. 
That is what development banking is about. It makes a contribution is terms of employment, foreign exchange generation in a country. And that's our primary focus, but as a development bank we also recognize the need for improvement in our housing stock, in human development. And that is why it is called a consolidated line, also has 5 million dollars for mortgage financing and another 5 million dollars for student loans. In this line this year we have an additional million dollars, a pilot project for renewable energy and energy efficiency projects. It's something new that we've undertaken and as you heard Ms. Clarendon say they are going to do a training in the next two days in helping us to launch that line, developed the terms to see who will benefit and things like that. So it's a consolidated line because it includes productive sector, mortgage financing, education and now the renewable energy."
A team from CDB is in Belize for the next two days working with the Ministry of Finance; the Board of Directors, management, and staff of DFC; and other key stakeholders to apprise them of the implementation and reporting requirements and expected results of the project.
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