NEW YORK, CMC – Belize has signed a US$12.5 million agreement with the Kuwait Fund for Arab Economic Development to finance the upgrading of the George Price Highway.
The agreement signed on the sidelines of the World Bank and International Monetary Fund (IMF) annual meetings here will support critical infrastructural enhancements to one of Belize’s most important transportation corridors.
The project includes the construction of new service lanes, the upgrading of existing bridges, and the addition of 16 bus stop lanes aimed at improving safety, accessibility, and connectivity for trade.
Belize government officials said that the agreement further strengthens the longstanding partnership between Belize and the State of Kuwait, which dates back to the 1990s.
They said that over the years, the Kuwait Fund has supported several major infrastructure projects in Belize, including the development of the Southern Highway, the Hummingbird Highway, and the Caracol Road.
The agreement was signed by Joseph Waight, Financial Secretary and head of the Belize delegation to the IMF/World Bank meetings, and Waleed Sh: Al-Bahar, acting Director General of the Kuwait Fund for Arab Economic Development.
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