Belize Government updates people on Venezuelan Funds

The Belizean Government has made an announcement that it is going to update the public on the status of the “Venezuela Funds” that were being disbursed before the General Elections.

According to the announcements of the previous administration, the Venezuelan Government awarded a grant to Belize in the sum of USD 10 million to be distributed the following way:
USD 9 million for housing loans and grants;
USD 1 million to upgrade the sporting complex.

Now, through the Ministry of Foreign Affairs and Foreign Trade, the Government of Belize has received information from the Government of Venezuela that refers to a Non-Reimbursable Economic Assistance Agreement signed between the Fund for International Cooperation (FACI) and the Government of Belize on December 28, 2007. The Agreement was signed for the sum of USD 20 million to be used the following way:
USD 19 million for the construction and rehabilitation of houses;
USD 1 million for the construction of an athletics track.

However, the previous administration had announced that the Venezuelan Grant amounted to only USD 10 million, which is half the amount now claimed by Venezuela. So, a discrepancy between what the previous Belizean Administration said and what the Venezuelan Authorities now say is enormous.

So, the Belizean Government is trying to understand the real situation and will make all the necessary efforts to account for all the funds sent.

Comments are closed.