November 29, 2023.
The Development Finance Corporation (DFC) organized a Project Launch to commemorate the official signing of its recently approved lines of credit with the Caribbean Development Bank (CDB), which took place on January 11, 2023, and September 8, 2023, respectively. The loan approved on January 11, 2023, was a dedicated Student loan line of credit, financed from Ordinary Capital Resources (OCR) of US$3.5 million and Special Fund Resources (SFR) of US$2.5 million, totaling US$6.0 million. Given DFC’s commitment to gender equity, this program plays a crucial role in providing educational access to women, at-risk youth, indigenous peoples, and financially disadvantaged groups.
In September 2023, CDB approved an Agricultural and Industrial Credit facility for US$12.5 Million under the Special Fund Resources (SFR) for on-lending to Micro, Small, and Medium Enterprises (MSMEs). This funding aims to enhance financial accessibility, addressing barriers faced by MSMEs in these sectors, thus fostering economic growth and job creation, acting as an economic stimulus. Empowering MSMEs in agriculture and industry contributes to job creation and fosters a sense of partnership in economic development, encouraging collaboration and future growth.
These credit lines align with and support CDB’s regional objectives for poverty alleviation and employment generation, as well as the Government of Belize’s medium-term objectives for human resource development. Furthermore, there is alignment with Sustainable Development Goals (SDGs), as the emphasis on these sectors is crucial for national development and corresponds with global sustainability goals. MSMEs, with improved financial backing, can contribute to sustainable practices, environmental conservation, and social development.
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For more information:
Mr. RLee Vicente
Manager, Marketing & Communications
(501) 822-2350 / 2360 Ext. 222
