The National Bank of Belize is one of the latest major projects being undertaken by the Government of Belize. The bank will seek to provide an affordable credit system to lower and middle income Belizeans and particularly public officers, teachers and other needy Belizeans. The Bank will have a startup capital of BZE $20 million dollars. This will afford the Government 200,000 shares. The Rt. Hon. Dean Barrow made the big announcement in April of this year.
Prime Minister Dean Barrow:
The Board of Directors has now decided that the motto of the Bank is ‘Of The People, For The People.’ Of course the mission of the Bank is principally to make residential and other consumer loans available to lower to middle income Belizeans, and in particular Public Servants and Teachers, at cheaper rates than are being offered in the market at this time. The truth is that the whole idea is to put pressure, downward pressure, on the lending rates of the commercial banks.
The official opening ceremony of the Bank is slated for early September of this year. Its headquarters will be located right here in Belmopan, at the Corner of Forest Drive and the Hummingbird Highway. The bank will be chaired by Senator Joy Grant, Minister of Energy, and staffed by capable technocrats and banking authorities. Meanwhile, Managing Director will be Jose Marin – who is well known in the banking industry as well as in community development.