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.