BELIZE CITY, Belize – The Caribbean Development Bank (CDB, the Bank), in partnership with the Development Finance Corporation (DFC) and the Government of Belize, launched the ninth consolidated line of credit, amounting to USD 20 million. This initiative aims to provide affordable financing to key sectors, including Micro, Small, and Medium-sized Enterprises (MSMEs), agriculture and industrial credit, education, energy efficiency and renewable energy, and low-income housing, thereby fostering sustainable economic growth and resilience in Belize.
At the project launch workshop on February 17, CDB’s vice-president of operations, Isaac Solomon, emphasized the significance of the collaboration, “This workshop for the ninth consolidated line of credit is significant to us at CDB given our mission to reduce poverty and transform lives through sustainable, resilient, and inclusive development.”
The DFC has been instrumental in channeling financial support to priority sectors identified by the government of Belize. Since 2009, the bank has extended five lines of credit totaling over USD 59 million to the government and directly to DFC. With this new line, the total loan resources provided to DFC will reach USD 79.15 million.
Highlighting the critical role of MSMEs in Belize’s economy, Solomon noted:
“We are all well aware that MSMEs account for the majority of all enterprises in our region. In fact, they are 90 percent of the sector in Belize.” This line of credit aligns with Belize’s medium-term development strategy, targeting sectors essential for economic growth. It is poised to broaden livelihood opportunities, create higher-value jobs, and enhance resilience against external shocks for both women and men in the productive sectors.
Also speaking at the event was Belize’s prime minister, John Briceño, who expressed gratitude to CDB for its support and sustained collaboration with the DFC. The partnership, he indicated, afforded the Corporation the opportunity to invest in several priority sectors and fuel national development.
A view endorsed by Henry Anderson, DFC’s chief executive officer, and state representatives, including Christopher Coye, minister of state in the ministry of finance, economic development and investment, and Valentino Shal, chief executive officer in the ministry of rural transformation, community development, labour, and local government, who also attended the launch.
CDB remains committed to supporting Belize’s development objectives, as outlined in the Country Engagement Strategy for 2022 to 2026. To date, USD 59.65 million has been approved for various projects, including the Resilient Rural Belize Project and continued funding under the Belize Social Investment Fund III.
As a founding member of the bank, Belize continues to benefit from this enduring partnership, with initiatives designed to impact communities positively across the nation.
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