Belize gets $US10 million loan from Caribbean Development Bank
Wednesday, December 21st, 2016
A loan of $10 million US dollars has been secured by the Government of Belize (GOB) from the Caribbean Development Bank (CDB). The funds will be used by the Government’s Social Investment Fund (SIF), to finance social and economic projects in rural and under-served areas in Belize. The total cost of the project is estimated at $US12.5 million, of which GOB will provide the balance.
The loan was approved under the condition that all goals are achieved regarding the programs that are to be introduced in the poorest areas of the country. The loan has the purpose to provide these less developed communities with services such as gender-equality, climate resilient infrastructure, and basic social services. Many projects in the past have provided many rural areas with electricity, road access and potable water. One of those projects during this year was the million-dollar project for the upgrade a rudimentary water system in the village of Maskall, Belize District. The project brought clean and safe drinking water to the many residents of the village.
The SIF was established in Belize in 1996 as a statutory body in charge of providing equitable and adequate response to the human development needs of the poor and vulnerable population of the country. This assistance is expected to enable every citizen to fully develop, flourish and function to his/her maximum potential.
For more information visit www.sifbelize.com