RIYADH: Major road infrastructure projects in Belize and Saint Lucia will get a boost after the Kuwait Fund for Arab Economic Development signed two concessional loans totaling 8 million Kuwaiti dinars ($25.6 million).
The agreements, each valued at 4 million dinars ($12.8 million), were signed on the sidelines of the World Bank and IMF Annual Meetings in Washington and will co-finance key highways in both countries, the Kuwait News Agency reported.
The Belize project forms part of a broader national infrastructure program with a total cost of approximately $42.7 million.
“Under the first agreement, KFAED will provide the government of Belize with a loan of KD4 million ($12.8 million) to contribute to financing the George Price Highway (Belmopan-La Democracia Section) project,” KFAED said in a statement.
The 4-million-dinar loan will finance the government’s contribution to the project, with implementation expected to be completed by 2028. The project aims to enhance road safety, reduce congestion, and improve climate resilience.
