More than 5,000 Belizeans and 200 companies will benefit from a new Credit Line signed between CABEI and the Development Finance Corporation
• First credit line to the non-sovereign public sector in Belize is for US$2.5 million and resources will be available for sectors such as tourism, agribusiness, and trade, among others.
Punta Cana, May 9th, 2023 - The Central American Bank for Economic Integration (CABEI) and the Development Finance Corporation (DFC) are planning to boost economic growth and competitiveness by strengthening Belize's business fabric with the opening of a US$2.5 million Global Credit Line (GCL) that is expected to benefit more than 5,000 individuals and 200 companies, as well as organizations with legal status.
"We are pleased to sign this first credit line with Belize's financial sector through an alliance with Development Finance Corporation, a key partner in promoting the development of Belizeans through access to fast-disbursing resources with competitive financial conditions for the business sector of our partner country," said CABEI Executive President Dr. Dante Mossi.
The funds, which are part of the Regional Program to Support the Economic Reactivation of MSMEs, will be used to strengthen and develop strategic sectors for Belize, enabling micro, small, and medium-sized enterprises (MSMEs), foreign trade, and productive sectors to access financing at preferential rates, in addition to promoting green financing.
In addition, in order to promote women's access to credit, DFC will have at its disposal a guarantee fund with a gender focus with resources donated by TaiwanICDF, as well as technical assistance to strengthen the financial institution's capacity to meet the needs of MSMEs led by women and access to the Credit Guarantee Program (GC) for Women MSMEs, which is expected to protect 102 permanent jobs, 63% of which belong to women.
Established in the Human Development and Sustainable Competitiveness axes of the CABEI 2020-2024 Institutional Strategy, the initiative contributes to inclusive economic growth and the strengthening of value chains. It also responds to the 2020-2024 Environmental and Social Strategy through support for Sustainable Development Goals (SDGs) 8: Promote sustained, inclusive and sustainable economic growth, full employment and output and decent work for all, and 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.