Posted: Saturday, February 8, 2025. 2:10 pm CST.
Press Release
The European Union (EU) is providing $2 million grant funding to scale up the “Digital Innovation to Boost Economic Development in Belize” program, financed by the Inter-American Development Bank (IDB). The project is a key element in the Government of Belize’s comprehensive strategy to drive digital innovation and transformation.
The non-reimbursable technical cooperation will complement the existing $10 million IDB loan program, which seeks to advance the digital transformation of firms, promoting growth and increasing efficiency within Belize’s economy. The project, currently being implemented by the Ministry of Finance, Economic Development, Investment, Civil Aviation and Immigration, supports Micro, Small and Medium-sized Enterprises (MSMEs) in their digitalization journey.
Direct beneficiaries include more than 250 firms, while at least 20 individuals, 50% of whom are women, will receive digital skills training through boot camps.
The EU grant will support activities to stimulate private sector demand for digital transformation and digital innovation, enhance local digital capacities resulting in greater adoption of digital solutions and technologies, and support MSMEs in boosting sales, increasing use of digital payments and fostering innovations in information processing and communication methods.
The contribution agreement between the IDB and the EU underscores a shared commitment to empowering Belize’s private sector, ensuring meaningful participation from women entrepreneurs and paving the way for a robust digital economy and a sustainable future in line with both institutions’ cooperation under the Global Gateway Investment Agenda for Latin America and the Caribbean.
Contacts:
For IDB: Julie Ramlal, julier@iadb.org
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en.
For European Union: Elizabeth Lanzi Mazzocchini – Delegation of the European Union to Jamaica, Belize and Bahamas – Elizabeth-Mary.LANZI-MAZZOCCHINI@eeas.europa.eu
About the European Union
The European Union (EU) is a political and economic Union of 27 European countries that collaborate on a range of policies and regulations to promote integration, trade and cooperation among European states and with the world. It has been a partner to Belize for over 30 years, providing financial assistance to support development in the country. The EU’s cooperation with Belize focuses on sustainable economic growth, inclusive development, and reducing inequalities.
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The post European Union Partners with IDB to Scale Up the Digital Innovation in Belize appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Saturday, February 8, 2025. 2:10 pm CST. Press Release The European Union (EU) is providing $2 million grant funding to scale up the “Digital Innovation
The post European Union Partners with IDB to Scale Up the Digital Innovation in Belize appeared first on Belize News and Opinion on www.breakingbelizenews.com.