By Breaking Belize News Staff: Approximately 3,000 rural households in Belize are expected to receive electricity for the first time under a new US$23.75 million financing package approved by the Inter American Development Bank.
The IDB says the Rural Electrification Program will expand the electricity network while also introducing solar photovoltaic mini grids, battery energy storage systems and smart meters in communities where conventional grid connections may be difficult.
The financing package consists of a US$20 million IDB loan, a US$2.75 million nonreimbursable investment grant and a US$1 million grant from the Low Carbon Energy Fund.
The programme will particularly target rural communities with high proportions of Indigenous people and migrants.
According to the IDB, the investment is intended not only to bring electricity into homes but also to improve living conditions and create economic opportunities in rural Belize.
The programme will finance the design, construction and installation of solar mini grids with battery storage and smart metering technology. Distribution networks will also be expanded to connect households and community facilities.
The IDB says the programme will additionally strengthen Belize’s capacity to plan, operate and maintain rural electrification investments while encouraging productive uses of electricity.
It marks the IDB’s first energy sector operation in Belize.
The US$20 million loan carries a 25 year repayment period, a 5.5 year grace period and an interest rate based on SOFR.
The post 3,000 rural Belize households to get electricity under US$23.75 million IDB programme appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Breaking Belize News Staff: Approximately 3,000 rural households in Belize are expected to receive electricity for the first time under a new US$23.75 million financing package approved by the Inter American Development Bank. The IDB says the Rural Electrification Program will expand the electricity network while also introducing solar photovoltaic mini grids, battery energy
The post 3,000 rural Belize households to get electricity under US$23.75 million IDB programme appeared first on Belize News and Opinion on www.breakingbelizenews.com.