The Social Security Board has not approved a loan for the urgent repair of the Caye Caulker Airstrip. Chairman Douglas Singh today confirmed that a loan for a little more than 3 million dollars was recommended by the Investment Committee, but was declined by the Board of Directors.
He says the board issued a carefully worded response suggesting that - if certain conditions are met - Belize Airports Authority could re-submit the application - for a third time.
The loan application started at 7 million dollars - which was rejected by the Investment Committee. The project has now been pared down to half that and the relevant Minister and Are Rep says he hopes work can finish by Easter.
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