Sunday, May 24, 2009

$3 million USA loan to assist poor women be entrepreneurs ( hic ! )


The government of Belize, the UDP have successfully BORROWED another loan. This loan is for $3 million USA dollars, or $6 million dollars Bz., Loaned to our UDP government ( that is the first mistake ) by the International Fund for Agricultural Development. The alleged MISSION GOAL is to enable rural poor women in a sort of RURAL FINANCE PROGRAM. The usual (BLAH! BLAH! BLAH!) accompanies the news blurbs on this loan. If you figure 10,000 poor women who will borrow money, then that works out to $600 Bz each. Of course, being a government administered loan program, only 5% of the money is actually expected to reach any poverty needing women. These in turn will have to be UDP voters. Such loans disappear in bureaucratic overhead costs.
If given to the CREDIT UNIONS to administer, it might work out? But not administered by any of our government departments. Our bureaucrats cannot even handle the work loads they have now. With diminishing finances to fund civil servants, the situation is slated to get a lot worse too.
The blah, blah, blah mission goals of this program are worthy enough, as all such foreign aided money is, but only if administered by a Credit Union, or NGO and NOT by anybody in our government political, or bureaucracy. Just my thoughts on the subject, by a professional cynic. Otherwise the stated goals sound excellent!

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