BELMOPAN, Belize, Monday July 26, 2010 – The Caribbean Development Bank (CDB) is supporting the Government of Belize in its effort to raise the standard of living of the poor and vulnerable in that country. CDB’s Board of Directors has approved a loan equivalent to US$15 million to the Belize Social Investment Fund to invest in social and economic infrastructure, social services and organisational strengthening sub-projects.
Approximately 100,000 persons living in 90 poor communities will benefit from project.
The project is an integral component of the Government’s National Poverty Elimination Strategy and Action Plan.
“It is expected to lower deficits in water and sanitation infrastructure, improve access to health and education services and reduce social vulnerability. Community involvement will be an important component throughout the sub-project cycle, and the project will be demand-driven,” a CDB statement said.
Since its inception 14 years ago, the Belize Social Investment Fund has played a key role as the Government’s main implementing agency in the provision of basic infrastructure and social services in poor and vulnerable communities.
In 2002, the Fund was given the mandate to manage the CDB-funded Basic Needs Trust Fund Programme in Belize, which is a similar poverty-reduction initiative with a community-driven approach.