Tag:
World Bank
Community and Society
Powering Progress in La Isla Bonita – BEL’s Battery Energy Storage System to Bolster Energy Reliability
Belize Electricity Limited (BEL), in partnership with the Government of Belize and with funding from the World Bank, continues to work diligently on deploying a 10 MW Battery Energy Storage System (BESS) in San Pedro Ambergris Caye. The project will be developed at BEL’s property behind the BEL Substation on Pescador Drive, San Pedro, and is slated for completion by 2026.
Government
DFC Nominated for Accreditation to the Adaptation Fund
The Ministry of Economic Development, as the National Designated Authority (NDA), is pleased to announce the nomination of the Development Finance Corporation (DFC) for accreditation to the Adaptation Fund (AF). During the World Bank/International Monetary Fund (IMF) annual meetings in late October, a bilateral meeting was held between the Government of Belize and the AF. This nomination marks a crucial step in advancing Belize’s capacity to finance climate adaptation initiatives and support the resilience of communities facing the impacts of climate change.
Business & Economy
Belize actively seeking investments to support economic growth
During the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington, D.C., this October, Belize's delegation was led by the Honorable Christopher Coye, Minister of State in the Ministry of Finance. The Belizean delegation is anticipating closing a loan with the World Bank to finance renewable energy projects. This initiative is part of a broader plan to attract new investments to Belize and take advantage of trends such as nearshoring. International financial institutions in Belize, like Caye International Bank (CIB), believe the country has the potential to become a trade finance hub due to its strategic location in Central America.
Environment
SPTC raises mangrove-alteration awareness
The San Pedro Town Council (SPTC) is embarking on a significant new project in collaboration with a mission team from the World Bank under the Blue Cities and Beyond Project. This project is not just about nature-based solutions for marine and freshwater management but also about spurring economic growth, attracting investments, and ensuring the well-being of water resources. It's a crucial initiative to concentrate on coastal areas vulnerable to climate events such as storms, assessing the impact on these "blue spaces."
Government
Informative session in San Pedro discusses World Bank project aimed at improving infrastructure planning on the island
An information session on a World Bank project, crucial for the future of San Pedro Town, Ambergris Caye, was held on Monday, May 20th, at the San Pedro Lions Den. The 'Blue Cities and Beyond' Project aims to enhance access to the island's climate-resilient and sustainable water and sanitation services. The presenters also outlined that the project will bolster the island's and country's management capacity for sustainable development of the blue economy.
Community and Society
Plans discussed to upgrade the power supply for Ambergris Caye
The Ministry of Finance, Economic Development and Investment, and the World Bank organized a public information session at the Sunbreeze Hotel conference room to discuss a project to enhance the resilience of the electricity system in San Pedro, Ambergris Caye. Held on Thursday, April 4th, the consultation outlined the details of the Belize Renewable Integration and Resilient Energy System project funded by the World Bank. It will involve a battery energy storage system, grid-resilient infrastructure, and capacity building.
Government
Government Hosts Stakeholder Engagement for Development of the Escazú Agreement Implementation Roadmap
The Government of Belize, through the Ministry of Sustainable Development, Climate Change and Disaster Risk Management, in collaboration with the Economic Commission for Latin America and the Caribbean (ECLAC) and the World Bank, hosted a one-day Stakeholder Engagement Event at the San Ignacio Resort Hotel, for the development of a roadmap for implementation of the Escazú Agreement.
Government
IDB and Belize agree during COP-28 to focus on climate resilience, health, and urban infrastructure in 2024
The Vice-President for Countries of the Inter-American Development Bank (IDB), Anabel González, and the Minister of State for Finance, Economic Development and Investment of Belize, Christopher Coye, met during the 28th annual United Nations Climate Change Conference (COP-28) in Dubai, United Arab Emirates, to review and agree on next steps on a joint work agenda for 2024.
