Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694573652371.pdf (Belize)
BELIZE No.

HR4/1/13 HOUSE OF REPRESENTATIVES Friday, 9 th April 2021 10:00 AM ­*­ ­*­ ­*­ S U P P L E M E N T A R Y (1) ORDERS OF THE DAY 12.

Introduction of Bills.

1.

General Revenue Appropriation (2021/2022) Bill, 2021.

Bill for an Act to appropriate certain sums of money for the use of the Public Service of Belize for the financial year ending March 31, 2022.

(The Honourable Prime Minister and Minister of Finance, Economic Development and Investment) 2.
Belize Constitution (Tenth Amendment) Bill, 2021.

Bill for an Act to amend the Belize Constitution, Chapter 4 of the Substantive Laws of Belize, Revised Edition 2011; to provide an additional ground for vacating the office of a member of the Belize Advisory Council, the Election and Boundaries Commission, the Public Services Commission and the Security Services Commission; and to provide for matters connected therewith or incidental thereto.
(The Honourable Minister of Public Service, Constitutional and Political Reform) 14.

Public Business.

A.

Government Business I MOTIONS (For Text of Motions see Notice Paper attached ) 1.

Inter­American Development Bank ­ Program to Support the Health Sector to Contain and Control Coronavirus and to Mitigate its effect on Service Provision (US$5.0 Million) Loan Motion, 2021.

Cabinet’s recommendation to be signified.

2 2.

Official Charities Fund Motion, 2021.

Cabinet’s recommendation to be signified.


(The Honourable Prime Minister and Minister of Finance, Economic Development and Investment) 3 BELIZE No.

HR4/1/13 HOUSE OF REPRESENTATIVES Friday, 9 th April 2021 10:00 A.M. ­*­ ­*­ ­*­ S U P P L E M E N T A R Y (1) NOTICES OF QUESTIONS AND MOTIONS M O T I O N S 1.

Inter­American Development Bank ­ Program to Support the Health Sector to Contain and Control Coronavirus and to Mitigate its effect on Service Provision (US$5.0 Million) Loan Motion, 2021.
Notice given on 6 th April 2021.
WHEREAS , Belize, as a member of the Inter­American 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 for a program to contribute to the reduction of the morbidity and mortality in Belize caused by COVID­19, and to mitigate other indirect impacts of the COVID­19 pandemic; AND WHEREAS , the Program will consist of two components, as follows: (1) (2) timely vaccine Ensuring availability by increasing and facilitating access to vaccines: this component will finance, through the issuance of a sovereign credit guarantee, the purchase of 238,800 Covid­19 vaccine doses under the signed commitment agreement with the GAVI Alliance through the Covid­19 Vaccine Global Access (COVAX) Facility; and Facilitating vaccine accessibility: this component will finance investments for the National Covid­19 Vaccine Deployment Plan, involving activities to strengthen logistics of conservation (storage and cold chain management), distribution and deployment of vaccines, purchasing of required inputs to ensure vaccine delivery to health service sites and vaccine administration; and preparing and implementing a communication campaign regarding COVID­19 and the vaccination effort in Belize; AND WHEREAS , the proposed program will be financed through an IDB direct investment loan to the Government of Belize in the sum of US$2,862,740 and an IDB sovereign guarantee issued on behalf of the Government of Belize in the sum of US$2,137,260; 4 AND WHEREAS, any claim to the sovereign guarantee and payment of said claim by the IDB could be reimbursed by the Government of Belize to the IDB for up to the remaining approved period of the sovereign guarantee, with repayment terms similar to that of an IDB investment loan, bringing the total loan facility to US$5,000,000; AND WHEREAS ,
 the execution of the program shall be carried out by the Ministry of Health and Wellness, acting as the Executing Agency; AND WHEREAS, the Bank has offered financing of up to US$5,000,000 from its Ordinary Capital Resources for the said Program, under the following terms and conditions: Loan Principal Amount: Disbursement Schedule: Loan Term: Repayment Period: Purpose: Rate of Interest: Credit Fee: Guarantee Fee: (Comprised of US$5,000,000 flexible under US$2,862,740 financing facility and US$2,137,260 under the flexible credit guarantee instrument); the Over a period of three (3) years from the effective date of the Loan Contract for the Investment Loan and one (1) year from the effective date of the Sovereign Guarantee Contract; Twenty five (25) Years inclusive of a sixty six (66) month grace period; To be repaid in 39, approximately semi­annual and consecutive equal, installments of about US$128,205.13; To support the participation of Belize in the COVAX mechanism to facilitate Belize’s access to safe and the COVID­19 effective doses of the strengthen to vaccine, logistics, supply chain management, and application for and of the vaccine; and Interest will be charged, on the daily outstanding balance of the investment loan, as per the LIBOR­Based Interest applicable lending Rate, plus spread for the Bank’s ordinary capital loans; the A Credit Fee will be charged on the undisbursed balance of the investment loan, at a percentage to be established by the Bank, on a periodic basis, not exceeding 0.75% per annum; A Guarantee fee will be charged on the Callable Guarantee amount using the variable lending spread applicable to sovereign guaranteed loans; 5 Stand By Fee: A Stand By Fee will be charged on the Non­Callable Guarantee amount, at a percentage to be established by the Bank, basis, not a periodic exceeding 0.75% per annum; on 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 continued efforts to interrupt the transmission chain of COVID­19 in the country and fight the pandemic, approve and confirm that the Government may enter into a Loan Contract and a Sovereign Counter­Guarantee Agreement with the Inter­American Development Bank on the terms and conditions set out above, and further authorise the Minister of Finance to execute and deliver the said Contracts and all other documents associated therewith.
Cabinet’s recommendation to be signified.

2.

Official Charities Fund Motion, 2021.

Notice given on 7 th April 2021.

BE IT RESOLVED THAT this Honourable House approves the expenditure of $2,385,089 from the Official Charities Fund as detailed in Appendix A of the Draft Estimates of Revenue and Expenditure for the year ending 31 st March 2022.

Cabinet’s recommendation to be signified.

(The Honourable Prime Minister and Minister of Finance, Economic Development and Investment) ﹣ ﹣ ﹣ ﹣ ﹣