Belize
ALSO KNOW AS
Mother Nature’s Best Kept Secret
LOCATION
On the Caribbean coast of Central America with Mexico bordering on the north and part of the west, and Guatemala on the southwest.
STATUS
Independent – 21 September 1981
HISTORY
Belize was part of the Mayan empire of Central America which flourished between 300 and 900 AD. The country changed hands between Spain and Britain from the early 1600s until 1862 when the country became British Honduras. The country was renamed Belize in 1973 and gained independence in 1981.
MOTTO
Under the Shade I Flourish
CAPITAL
Belmopan
CURRENCY
Belize Dollar
AIRPORT
Phillip Goldson International
Country Programme Status
The Belize CAP consists of six components with a total value of US$6.25 million (EC$16.88 million). The CAP was designed to enhance the competitiveness of small and medium enterprises (SMEs) through the supply of low cost financing as well as supporting retrofitting of enterprises with renewable energy solutions. The CAP also included projects in the public sector for the provision of specific infrastructure and capacity support for the investment strategy. Several components were completed prior to 2017. The status of the ongoing components is set out below:
Support of Small and Medium Sized Enterprise (SME) Development
Support of small and medium sized enterprise (SME) development through the provision of a concessionary loan of US$3.0 million (EC$8.1 million) to the Development Finance Corporation (DFC) for on-lending to the private sector.
In 2016, the DFC had fully committed the remaining US$3.0 million (EC$8.1 million) of resources provided by the CDF to SMEs primarily for financing activities in agriculture, tourism and manufacturing sectors. At the end of 2017, US$2.89 million (EC$7.83 million) of the sub-loans had been disbursed.
Support for Energy Efficiency/Environmentally Friendly Initiatives
Support for energy efficiency/environmentally friendly initiatives through a grant of US$0.17 million (EC$0.46 million) was provided to selected Belizean SMEs.
The DFC, as the executing agency, received the first disbursement of US$0.14 million (EC$0.38 million) in August 2015. Three SMEs – two hotels and a hydroponic farm – were selected to incorporate energy efficiency/environmentally friendly technologies into their production processes. On August 7, 2016 the farm suffered a significant set-back in the aftermath of Hurricane Earl. At the end of 2016, the two hotels had successfully incorporated green technologies into their operations. On July 13, 2017, the CDF Board approved further assistance for the recovery of the farm. The green house was rebuilt by the end of the year and production was expected to resume by the second quarter of 2018.
Technical Assistance for Design and Implementation of the Management Information System (MIS) services for the Public Sector Investment Programme (PSIP)
Technical Assistance for design and Implementation of the Management Information System (MIS) services for the Public Sector Investment Programme (PSIP) were financed by a grant of US$0.10 million (EC$0.27 million) to the Ministry of Economic Development (MED).
Phase 1, inter alia, developed during 2011 the recommendations on the design for the MIS, that formed the basis for Phase 2 which commenced in 2015.
On May 26, 2015, CDF signed the grant agreement for Phase 2, amounting to US$0.34 million (EC$0.92 million), to implement and manage a web-based MIS pilot application. The pilot would entailed, inter alia, the design and implementation of the MIS that would allow selected Ministries inputting, analysing and retrieving data on their investment programmes.
The service contract to implement the second phase was signed on July 16, 2016 with a Belizean firm, eData Limited which commenced work on August 1, 2016. During 2017, the system design was completed, however, the hardware and equipment requirements were being reviewed ahead of the procurement process to install the physical elements of the pilot system. The timeline to complete the project was revised to November 2018.
The Replacement of the Haulover Bridge
The replacement of the Haulover Bridge through a grant of US$2.4 million (EC$6.48 million) to the Ministry of Works and Transport.
This project is a co-financing initiative with the Caribbean Development Bank (CDB). The agreement was signed on May 26, 2015. Design works commenced on April 9, 2016. Physical construction of the bridge was anticipated to commence in 2017 but issues related to the completion and acceptance of a social and environmental impact assessment delayed procurement and construction. As at December 31, 2017, the assessment was in the final stages of completion.
