Belize Gains Access to South Korean Economic Development Fund for Long-Term Projects

Belize Gains Access to South Korean Economic Development Fund for Long-Term Projects

Belize has officially gained access to the South Korean Economic Development Corporation Fund. In August, Prime Minister John Briceno met with President Yoon Suk-Yeo of South Korea and negotiated Belize’s eligibility for the fund, inclusive of an interest rate of 0.1% per annum and a 30-year repayment period. Last week, South Korea’s Deputy Prime Minister met the Minister of State in the Ministry of Finance, Christopher Coyem, and informed him that Belize got the green light. Coye says the endeavor is historic and will enable the government to borrow responsibly for projects with long-term goals.

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