Ministry of Finance; Economic Development and Investment

The San Pedro Town Council (SPTC) continues to work on a plan to upgrade the standard of living and infrastructure in the northern subdivision of San Mateo. A large-scale plan that will include paved streets, drainage systems, better access to utilities, waste management, and even the possible creation of public areas was discussed with the residents during a public meeting on January 23, 2024. The project depends on the community's feedback. As such, a follow-up discussion was hosted by the SPTC on Tuesday, February 13th, at the Sunbreeze Hotel.

The Inter-American Development Bank's (IDB) 37th Meeting of Governors of the Central American Isthmus and the Dominican Republic was held in Antigua, Guatemala, from February 5 to 6. The high-level meeting was poised to foster critical discussions on regional economic integration, infrastructure development, and bilateral cooperation.

The Development Finance Corporation takes a significant step forward in its commitment to combat climate change by officially submitting its accreditation application to the Green Climate Fund (GCF) on January 31, 2024. This landmark move positions DFC to access up to US $50 million in Green limate Funds, empowering the organization to spearhead transformative initiatives in the realm of sustainable development and environmental protection. The GCF, established to assist developing countries in addressing climate change through mitigation and adaptation efforts, serves as a crucial resource in advancing global climate action.

Over 40 personnel from the public and private sectors as well as development agencies came together for a three-day technical workshop to improve development financing and planning towards accelerating the Sustainable Development Goals (SDGs) and climate objectives. This is being considered through the implementation of the Integrated National Financing Framework (INFF) approach in Belize based on national priorities and experience from other countries. The workshop was convened by the Ministry of Foreign Affairs and Foreign Trade and the Office of the UN Resident Coordinator (UNRCO) with technical leadership of the United Nations Development Programme (UNDP) in partnership with the Ministry of Finance, Economic Development, and Investment and Ministry of Sustainable Development, Climate Change and Disaster Risk Management.

On January 11, 2024, the Ministry of Finance, Economic Development and Investment, in collaboration with the Ministry of Agriculture, Food Security and Enterprise and the Corozal Free Zone (CFZ), celebrated a momentous occasion with a groundbreaking ceremony for the rehabilitation of approximately 1.6km of the Corozal Free Zone Access Road.

The Ministry of Finance, Economic Development and Investment, which is responsible for regulating lotteries, has been receiving information on several illegal lottery sales. The ministry is monitoring these unauthorized operations, and action will be taken against the offenders. Only persons or businesses that obtain a license or have been appointed as an agent by the Lotteries Committee can promote, sell, hold, or conduct boledo lottery, ordinary lottery, or jackpot lottery.

Hon. Christopher Coye, Minister of State in the Ministry of Finance, Economic Development and Investment, is leading a delegation at the 28th Conference of the Parties (COP28) in Dubai, United Arab Emirates. During the first three days of the event, Minister Coye, along with Dr. Osmond Martinez, Chief Executive Officer of the Ministry of Economic Development, held bilateral meetings, which have resulted in access of up to BZ$122 million identified and/or secured to support in-country climate adaptation and resiliency building measures.

Hon. Christopher Coye, Minister of State in the Ministry of Finance, Economic Development, and Investment; Dr. Osmond Martinez, CEO in the Ministry of Economic Development; and Central Bank Governor Mr. Kareem Michael held bilateral meetings on day two at the International Monetary Fund/World Bank Annual Meetings in Marrakech, Morocco, to discuss Belize's movement towards sustainable development.