BELIZE LENDING INSTITUTION PLAN

  • The BPP will immediately declare a moratorium on residential foreclosures, affording homeowners an opportunity to refinance with a more considerate National Bank.

  • The BPP will enact usury laws that will protect all Belizeans from usury abuse.

  • The BPP will enact anti-trust laws to prevent predatory banking practices.

  • The BPP will retool, refocus and utilize the Development Finance Corporation to provide low-interest financing to the service sector.

  • The BPP will retool, refocus and utilize the National Bank to provide low-interest financing to the productive sector.

  • The BPP remove Credit Unions from Central Bank of Belize Control and Regulations, returning them to the Registrar of Cooperatives.

  • The BPP will encourage the establishment of Credit Unions countrywide as an alternative to the Commercial Banks.

  • The BPP will create legislation to allow for the establishment of jointly funded mutual funds by the private and public sector, with a view to provide low interest financing to the productive sectors of the economy geared towards import substitution – focusing on Agro-Industries and Light-Manufacturing.