And though the DFC is manifesting a true development bank's ethos, concerns have been raised regarding the selection and appointment of its board members. As we mentioned previously the board of directors is made up of 9 members - 5 persons representing the private sector, three government representatives and one chair person appointed by the Minister of Finance. We asked the Prime Minister today whether GOB's ever present influence on DFC governance could mean that many of the decisions taken within the institution are often politically influenced. Here's how he responded.
John Briceno, Prime Minister
"I don't know where you got that from because that's not true."
Reporter-
"Sir you have three members on the board, three government members on the board of directors and these individuals the chairman is appointed by the minister of finance."
John Briceno, Prime Minister
"And?? The government provides the funding so the government has to have... You see the Belize Development corporation is quote on quote owned by the government and they need to work in tandem with the policies of the government today but it is done in such a way the government does not have a majority on the board. So they are able to present well this is the direction of the government but the days are long gone where a minister can sign a note and give Paul a loan or give this one a loan that does not happen anymore and even if they're ere to attempt to do that it plays no role in the decision making of the loans. For instance I've never sent any note every from the first time when I was deputy prime minister to now any kind of notes to lend money to anybody that has stopped and we do not have that kind of interference in the operations of the DFC and that's why you now see a bit of growth and profits."
