The crowd sang Petro-Caribe roll it, but that was not the only loan motion that rolled into the house on Tuesday.
Four loan motions were introduced to the House and were taken through all the stages on the same day.
The loan motions are as follows: 1. The OPEC Fund for International Development- Belize City Southside Poverty Alleviation Project (Phase lll) Loan Motion 2014 which is for the sum of US $15,220,000 for a term of 20 years at an interest rate of 2.75% percent.
2. The Caribbean Development Bank (CDB) Seventh Consolidated Line of Credit to the Development Finance Corporation (DFC) Loan and Guarantee Motion 2014 which is for the sum of US $10,500,000 at an interest rate of 3.95% percent per annum on the outstanding balance for the Ordinary Capital Resource portion and 2.5% per annum on the outstanding balance for the Special Funds Resources portion plus a commitment fee at the rate of 0.25% percent per annum on any amount of the OCR portion unwithdrawn.
3. The Caribbean Development Bank Road Safety Project- Revision in Scope and Additional Loan Motion, 2014 which is for the sum of US $4,584,000.
And 4. the International Bank for Reconstruction and Development Climate Resilient Infrastructure Project Loan Motion, 2014 to approve a loan of US $30,000,000 at an interest rate of 1.25% plus Libor.
These four loan motions introduced to the house on Tuesday, now move on to the Senate on Wednesday next week for approval along with the Petro Caribe Loan Motion.