US Ex-Im Bank has approved a US$5.4mn medium-term loan guarantee to support the US$5.8mn sale by several US small businesses of electricity transmission equipment to Belize Electricity Ltd (BEL).
The US exporters include Electric Supply of Tampa, Inc, Tampa; Altec Worldwide LLC, Birmingham; and Peco International Electric Inc, Miami.
“We are pleased to support a win-win transaction that helps US companies expand into a small but important Latin American market while enabling the buyer to approach its goal of 100% national electrification by 2004,” says Ex-Im vice-chairman Eduardo Aguirre.
BEL, a privately-owned company that is the sole transmitter and distributor of electric power in Belize, will use the posts, towers, wiring and other transmission equipment to reach houses and businesses in remote areas.
The guaranteed lender on the transaction is Toronto-Dominion Bank, Baltimore. Centre Merchant Finance, Inc, a finance company based in New York and Guatemala City, was responsible for arranging the loan. BEL is the primary source of repayment.