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    Wednesday, 17 July 2019 02:32
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jbAnd continuing with the issue of Santander, just some days ago in an interview with new leader of the People’s United Party, Hon John Briceno, he made mention that while he welcomes foreign investment and the benefits that it brings to our country he questioned GOB’s agenda in their decision to allow SSB to lend a large amount of money to a Guatemalan company.


Today the PUP further weighed in on the matter of the Santander loan by sending out a release, stating quote “Our primary concern is why the people’s money is being used instead of borrowing from the commercial banks. The Santander Group is either strong enough to borrow an additional twelve million from commercial banks or it’s not. If it is not, then SSB should not be making this loan.” End quote


The PUP also calls on SSB to inform the public whether the proposed loan will be a first-ranking charge on the assets of the company and also if there is any security sharing agreement between the lenders that would restrict the right of the SSB to foreclose in the event of the default.


The release ended with the PUP enforcing their dissatisfaction with the loan approved by SSB as the party states that it stands in solidarity with the majority of Belizeans who oppose to the twelve million dollar loan to Green Tropics Limited and whilst the project is beneficial to the Belizean economy, this loan from SSB is not.” End quote

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