Arlington, VA-CIFI, a leading Latin America and Caribbean infrastructure financing and advisory firm, has announced it committed a US$5 million credit facility to Belize Natural Energy Joint Venture (BNE). Funds will finance capital expenditures at BNE, which recently discovered an oil field of 25 to 50 million barrels of potentially recoverable sweet crude. It is the first major oil discovery in the Central American country.
"BNE succeeded due to the determination of its management. CIFI is pleased to partner with such a committed group of individuals," said Roldan Trujillo, CIFI's CEO. This announcement comes on the heels of CIFI arranging a $53 million credit facility for a Belizean cogeneration energy plant.
About Belize Natural Energy Joint Venture Belize Natural Energy is a joint venture between CHx Capital, a US-based investment company and International Natural Energy, a group of primarily Irish-based private investors. Its primary activity is the exploration and development of oil and gas in Belize.