Belmopan, July 19, 2022. 11:45 a.m.
In 2014, the Government of Belize received a US$30-million loan for the Climate Resilient Infrastructure Project (CRIP) financed by the World Bank. The project was developed with the intention of enhancing the resiliency of road infrastructure against flood risks and other impacts of climate change; and improving the capacity to respond promptly and effectively in an eligible crisis or emergency, as required.
The implementation of this project took six years to begin with one-third of the loan (US$10 million) disbursed solely to conduct feasibility studies within that period. However, in 2020, amid the global pandemic, the project was reprogrammed to meet the immediate needs of the COVID-19 pandemic and provide relief to those most affected. The remaining funds from the loan — US$20 million — were allocated to emergency responses, which apportioned US$12 million to social protection measures and US$8 million to the agricultural sector. The amount allotted to the agricultural sector was distributed as a cash voucher for farmers.
The reprogramming of the infrastructure component under this project has prompted the Briceño administration to locate additional financing opportunities to advance the activities not fulfilled under the CRIP.
Ends
For more information, contact:
Dr. Osmond Martinez
Chief Executive Officer, Economic Development
880-2526