A Loan Agreement is Signed for Corozal/Sarteneja Road Project
A loan agreement between the Government of Belize and the Export-Import Bank of the Republic of China for fifty million U.S. dollars was signed this morning by Prime Minister Barrow. The monies are earmarked for the upgrading of the Corozal-Sarteneja Road, as well as the construction of the Pueblo Nuevo and Laguna Seca bridges. Witnessing the signing was Taiwanese Ambassador Remus Li-Kuo Chen and Minister of Works Rene Montero. The hundred million dollar loan, prior to the motion being passed in the House of Representatives, was the subject of much debate among parliamentarians who strongly criticized government for its excessive borrowing. P.M. Barrow spoke of the loan agreement and what the project means to residents of Corozal District.
Dean Barrow, Prime Minister
“Well let me, in the presence of the honorable Minister of Works and of course his Excellency the ambassador of the Republic of China (Taiwan) to Belize, say how very pleased we are to be or to have formally signed now the agreement between Belize and Taiwan that in fact constitutes the contract for the funding of this all important road from Corozal Town to Sarteneja. As well, the scope of works will include the replacement of some ancient ferries with modern bridges. This is a project that is of utmost importance to the people of the Corozal District, in particular those that are inhabitants of the villages along the route between Corozal Town and Sarteneja and of course the end point of Sarteneja, the villagers of Sarteneja of course are extremely pleased to know that at long last, something they have been asking for, for years is becoming a reality. So let me just record my own gratitude, the gratitude of the minister, the gratitude of the Government of Belize, the gratitude of the people of Belize, in particular the people of the Corozal District to the government of Taiwan for these arrangements which we concluded today by way of this signing ceremony and which will make, I repeat, this long held dream on the part certainly of the people of Sarteneja to make this long held dream a reality.”
Ground is expected to be broken on the project in mid-October with actual physical work to commence in early 2020.
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