Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697637742550.pdf (Belize)
Notice given on 31st January 2023.

Inter-American Development Bank - Trade and Investment Facilitation Program for Belize – US$8 Million Loan Motion, 2023.
WHEREAS, Belize, as a member of the Inter-American Development Bank (the “Bank”), is eligible for development assistance in the form of loans, grants, and technical assistance from the Bank on such terms and conditions as may be agreed between Belize and the Bank from time to time; AND WHEREAS, the Government of Belize has approached the Bank for financial assistance to execute a Program that will promote Belize’s Foreign Direct Investment (FDI) and trade performance; AND WHEREAS, the Program will consist of three components whose activities will: (i) improve investment facilitation through simplification, standardization, and automation of key investment procedures through the implementation of the Single Investment Window; (ii) improve the investment promotion and export development tools and Small and Medium Enterprises (SMEs) internationalization through the strengthening of the trade and investment institutional apparatus; and (iii) improve trade facilitation through simplifying, standardizing, and automating key trade processes; AND WHEREAS, it is intended that the execution of the project shall be carried out, on behalf of the Government, by the Ministry of Finance, Economic Development and Investment, acting as Executing Agency; AND WHEREAS, the Bank has offered financing of up to US$8,000,000.00 from its Ordinary Capital Resources for the said purpose under the following terms and conditions: Lender: Inter-American Development The Bank; Loan Principal Amount: US$8,000,000.00; Disbursement Schedule: Loan Term: Repayment Period Over a period of five (5) years from the date of signature of the Loan Contract; Twenty-five (25) Years inclusive of sixty-six (66) months Grace Period on Principal Repayments; To be repaid in 39 approximately equal, semi-annual, and consecutive installments of about US$205,128; Purpose: Rate of Interest: Credit Fee: To execute a program that will improve Belize´s external position to foster sustainable growth; inclusive and Interest will be charged on the daily outstanding balance
 of the loan, as per the SOFR-Based Interest Rate, plus the applicable lending spread for the Bank’s ordinary capital loans; A Credit Fee will be charged on the undisbursed loan balance at a percentage to be established by the Bank on a periodic basis, not exceeding 0.75% per annum; AND WHEREAS, under the provisions of section 7 (2) of the Finance and Audit (Reform) Act, 2005, the Government of Belize is required to obtain the prior authorisation of the National Assembly, by way of a Resolution, for such a borrowing; NOW, THEREFORE, BE IT RESOLVED that this Honourable House, being satisfied that the Loan proceeds would significantly assist the Government of Belize in its efforts to transform the external sector through diversification (attract more diverse FDI), integration (facilitate trade with neighbor countries) and innovation (promote positive spillovers of FDI), approves and confirms that the Government may enter into a Loan Contract with the Inter-American Development Bank on the terms and conditions set out above, and further authorizes the Minister of Finance to execute and deliver the said Loan Contract and all other documents associated therewith.