Inter-American Development Bank

The Ministry of Public Utilities, Energy, Logistics and E-governance (MPUELE), in partnership with key stakeholders, successfully hosted the Energy Fair 2024 at the University of Belize Campus in Belmopan. It was a dynamic event celebrating Belize's progress toward a future of clean and sustainable energy. The fair kicked off with a vibrant Opening Ceremony at 9:00 AM, featuring several key announcements and initiatives that demonstrate Belize's commitment to accelerating its energy transition.

The cost of living in San Pedro Town, Ambergris Caye, has always been higher than in other parts of Belize. As one of the fastest growing municipalities, many people from off the island come to work here and usually look for affordable homes to rent in the outskirts of downtown San Pedro. In the past, these areas lacked essential infrastructure, but now there are planned projects to upgrade them with more services and amenities; conversely, rent for housing is expected to increase as the market becomes more robust and the demand for housing increases. This is causing concern among lower-income residents, especially as there is no known policy in Belize to regulate rental costs.

San Pedro Town is the most populated and developed area of Ambergris Caye. Over the years, it has rapidly expanded to accommodate progress and the growing population. As it grows, the challenge of balancing progress and conservation remains a concern for the local authorities. To address this, studies have been conducted in partnership with international organizations such as IDOM Consulting, Engineering, Architecture SAU, and the Inter-American Development Bank to develop a master plan that will include protected areas. While the project is being finalized, the San Pedro Town Council (SPTC) has launched an aggressive project to protect the downtown beaches by implementing a nature-based approach.

The Executive Vice President of the Inter-American Development Bank (IDB), Jordan Schwartz, and the Prime Minister of Belize, Hon. John Briceño, signed loan contracts and related non-reimbursable grant agreements to finance two new programs aimed at enhancing healthcare services and promoting sustainable urban development in Belize, respectively. The signing took place on Friday, 30th August 2024, during the Third High-Level Dialogue of the Regional Climate Change Platform of Finance and Economy Ministries in San Pedro, Ambergris Caye.

From August 30th through the 31st, San Pedro Town, Ambergris Caye, hosted the third High-Level Meeting of the Regional Climate Change Platform of Economy and Finance Ministries of Latin America and the Caribbean. Hosted by the Government of Belize in collaboration with the Inter-American Development Bank (IDB), the two-day event saw delegations from various countries. The ministerial meeting ended with a powerful demonstration of unity as the participating countries adopted a regional vision for sustainable finance. This collective effort aims to boost sustainable finance and promote effective investments, reinforcing the shared responsibility of the participating countries in meeting their climate commitments.

On August 30th and 31st, during the Third High-Level Dialogue of the Regional Climate Change Platform of Finance and Economy Ministries in San Pedro Town, Ambergris Caye, the Inter-American Development Bank (IDB) and the Government of Belize signed a funding agreement. This agreement aims to improve the country’s healthcare services and urban infrastructure, including San Pedro’s San Mateo Subdivision, which will benefit from upgrades to its street network, sewage and drainage infrastructure, public parks, and other essential services.

During the roadshow organized by the Belize Trade and Investment Development Service (BELTRAIDE) to highlight Micro, Small, and Medium Enterprises (MSMEs) in San Pedro Town on August 17th, businesses participated in a pitch competition for a chance to win a cash prize. On Monday, August 27th, Brian Halliday and his business 'Nature Aid' and Guillermo 'Mito' Paz, who lead the island's Eco-Museum Belize project, were announced as winners. Each entrepreneur was granted $2,500 to invest in their business projects. Two local projects have recently received funding through the Inter-American Development Bank to support emerging businesses in Belize.

The third High-Level Meeting of the Regional Climate Change Platform of Economy and Finance Ministries of Latin America and the Caribbean formally began on Friday, August 30th, in San Pedro Town, Ambergris Caye. The two-day meeting aims to approve the new work plan for the 2024-2025 period, which includes specific strategies for sustainable finance and climate change mitigation, and transfer the pro-tempore presidency from the Ministry of Finance of Chile to Colombia’s Ministry of Finance and Public Credit. The goal is for ministers attending to formally adopt a shared regional vision on sustainable finance.