Belize Progressive Party Expresses Concerns Over Social Security Board’s Nine-Million-Dollar Loan

Belize Progressive Party Expresses Concerns Over Social Security Board’s Nine-Million-Dollar Loan

Tonight, the Belize Progressive Party is expressing grave concern over the Social Security Board’s proposed nine-million-dollar loan to Belize Premium Spirits and Liquors Limited. Yesterday, the board explained that the funds will be used by the company to construct a rum factory to export Belizean-made liquor. According to SSB, the company has put forward over 752 acres of land as collateral and is funding most of the venture. However, the BPP Leader, Wil Maheia, believes the board is not doing enough due diligence and calls on the SSB to ensure the funds of contributors are not hastily invested. 

SSB noted yesterday that the board’s investment committee and its sub-committee have done rigorous checks to ensure the loan is repayable and profitable. 

Related post

Atlantic Bank Limited washes its hands of Stake Bank Enterprise

Atlantic Bank Limited washes its hands of Stake Bank…

The waters have become even murkier surrounding the issue with Stakebank Enterprises Limited, its shareholders and Atlantic Bank Limited.  Tonight, we…
EU and OAS Sign Cooperation Agreement to Bolster Peace Between Belize and Guatemala

EU and OAS Sign Cooperation Agreement to Bolster Peace…

Several diplomats gathered at the western border this afternoon where a cooperation agreement was signed between the European Union (EU) and…
Belize Braces for Heatwave with Temperatures Soaring to 100°F

Belize Braces for Heatwave with Temperatures Soaring to 100°F

For the next two days residents along the coast and in inland areas will be experiencing a heatwave of one hundred…

Leave a Reply

Your email address will not be published. Required fields are marked *