Three years later, not one dollar of the $77 million Saudi solar loan has been spent

By Breaking Belize News Staff (HP): Minister of Public Utilities Michel Chebat has confirmed that no funds have been disbursed from the US$77 million Saudi Fund for Development loan signed in August 2023 to build a 60 megawatt solar plant.

“With the Saudis unfortunately it has taken much longer to get the funds that are necessary but now that is already in process,” Chebat said. “No funds have been dispersed because they are speaking to the engineers to be able to get the specifics so that the RFP can be drafted and sent out for procurement purposes.”

Pressed by Jules Vasquez on whether a three year delay, which could stretch to six years before the plant operates, points to government’s incapacity to handle a technically demanding project, the minister disagreed.

“I would not characterize it that way,” he said, noting that government has completed large projects over the past five years.

Chebat attributed the delay to the Saudi procurement process, which he said carries more conditions, including a requirement to use Saudi engineers on many aspects of the project.

“We have our thumbs on this and we are pushing it as fast as we can,” he said.

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