October 17, 2016, BRIDGETOWN, Barbados – The Board of Directors of the Caribbean Development Bank (CDB) has approved a country strategy for Belize for 2016 to 2020. The strategy proposes support of USD200.5 million (mn) for Belize over the four-year period. It will help the country address some of the social, environmental and economic challenges it faces.
Dr. Justin Ram, Director of Economics, CDB, notes: “CDB remains a committed partner in helping Belize achieve sustained growth and development. This strategy will bolster the Government of Belize’s ongoing reform efforts by supporting interventions that will support inclusive social and economic development, environmental sustainability, and the promotion of good governance.”
The strategy aims to drive five development outcomes:
- increasing competitiveness and productivity;
- improved quality and access to education and training;
- improved social sector outcomes;
- enhanced environmental management and reduced vulnerability to natural disasters; and
- improved governance and development planning.
Gender equality, regional cooperation and integration, as well as energy security and citizen security, will be key features of CDB’s interventions delivered through the strategy programme.
The USD200.5 mn resource envelope includes USD126.5 mn in loan resources and USD74 mn in grant funds, including resources to support necessary reforms to unlock Belize’s growth potential.
The approved country strategy is aligned with CDB’s strategic objectives of promoting broad-based economic growth and social development, and promoting good governance. It builds on policy dialogue with key policymakers and stakeholders, and complements the Government of Belize’s 2016-2019 Growth and Sustainable Development Strategy and the work of other development partners in Belize.