Social Security Board to Lend $20.4 Million for Public Administration Campus
The Social Security Board (SSB) has announced its plans to lend twenty point four million dollars to Public Administration Campus I Limited. The Public Administration Campus I Limited is a company that will be used to facilitate a public-private partnership that the SSB and the Government are planning to pursue. In this vein, two office buildings will be constructed next to the Eleanor Hall Building on Chetumal Street. It is further noted that the buildings will be leased for 30 years to the Government, and will then be fully handed over to them. The project planning is spearheaded by PPF Capital Belize Limited, a firm specializing in feasibility studies. PPF’s Managing Director, Chris Magan, explained the mechanics of the project and how it will benefit GOB.
The SSB will be the majority shareholder, and, according to its CEO, Deborah Ruiz, the venture seeks to expand its investment portfolio. Ruiz explained that the project will commence sometime next year after the logistics have been finalized.
The buildings will be five stories and are expected to be climate-resilient, and energy efficient.