By Zoila Palma: The World Bank Group has approved a new Country Partnership Framework for Belize aimed at boosting economic growth, creating jobs, improving energy reliability, and strengthening the country’s resilience to climate change and natural disasters. The strategy was approved by the Board of Executive Directors on May 19.
The new framework will support Belize’s development priorities under the government’s #PlanBelize agenda by promoting private sector-led growth and investing in key sectors including energy, education, water, sanitation, and climate-resilient agriculture.
Belize’s economy, valued at approximately US$3 billion with a population of about 420,000, relies heavily on tourism, which contributes 45 percent of the country’s GDP.
The release noted that Belize remains highly vulnerable to climate impacts, particularly threats to the Belize Barrier Reef, which supports tourism and agriculture while helping protect coastal communities. The strategy includes plans to support investments in water, sanitation, and waste management in coastal areas, while also helping Belize position itself as a logistics hub linking the Caribbean and Central America.
Prime Minister John Briceño welcomed the new partnership, stating, “We are committed to building on the fiscal stability and economic progress Belize has achieved over the past five years, and steering our economy toward stronger, more inclusive growth.” He added, “This partnership with the World Bank Group will support us in that effort.”
The World Bank also highlighted Belize’s growing energy demand and shortage of skilled labor as major challenges. The framework proposes strengthening the country’s energy policies, improving electricity distribution, and supporting public-private investments in renewable energy and infrastructure. It also aims to expand early childhood education and care services to help more women enter the workforce.
“The World Bank Group is steadfast in supporting Belize’s next phase of growth – helping to create the conditions for private investment, accelerating the energy transition, and expanding skills and opportunities for Belizeans to participate in that growth,” said Lilia Burunciuc World Bank Director for the Caribbean.
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By Zoila Palma: The World Bank Group has approved a new Country Partnership Framework for Belize aimed at boosting economic growth, creating jobs, improving energy reliability, and strengthening the country’s resilience to climate change and natural disasters. The strategy was approved by the Board of Executive Directors on May 19. The new framework will support
The post World Bank approves new strategy for Belize focused on Growth, Energy and Jobs appeared first on Belize News and Opinion on www.breakingbelizenews.com.
