On Friday, our news team was at the airport as PM John Briceno landed after spending 20 days abroad bookended by official visits to Belgium and South Korea.
But the minute landed, he was whisked away into another high level meeting. This one was for a loan agreement of US 77 Million dollars with the Saudi Fund for Development. After the signing, he explained that the money will be used to resolve our energy dependence.
John Briceno, Prime Minister
"We just signed a loan for 77 million dollars and that will allow us to be able to set up a solar plant for 60 megawatts. As you all know because the economy has been growing so fast the energy consumption also is increasing and we are going to soon maxed out what we have. That is one part. The second part also is Mexico is having problems with energy. Presently we produced 61% through renewable sources of energy, 61%. And we want to go to 100% and so solar is one of those ways. So this investment will help us to get towards that 100% and secondly it will take us towards fully energy independent and that is why we felt that this loan is very important for us. It is a loan that we will pay only 2% per annum and I think it's going to be paid over 30 years. So it's a big win for Belizeans."
Reporter
"When are they going to be constructed and do you have any idea where to be constructed?"
John Briceno, Prime Minister
"I don't know exactly where it is going to be constructed, but we already sign so the monies will be made available and we want to start as soon as possible."
There has been no word on who or what entity will manage the solar facility.
