Belize Celebrates Two Years of Blue Bond Agreement: Significant Debt Relief and Environmental Benefits

After two years of achieving one of the largest debt-for-nature swaps in the world, the Briceno Administration is pushing full steam ahead with its plan to persevere and conserve Belize’s marine space. In November 2021, Belize signed the Blue Bond Agreement, saving the country over 1 billion Belize dollars and charting a way forward to finance the protection of our marine resources. Today, the government celebrated two years of its implementation and delved into the many positive aspects of the agreement, including its significant debt relief and environmental benefits. According to Prime Minister John Briceno, if it were not for the venture, Belize would have defaulted on its debt and be in financial ruin. 

Under the initiative, Belize has completed three of its eight milestones. The county has moved to preserve over twenty percent of its total ocean space and has designated all existing national lands within the Belize Barrier Reef Reserve System as mangrove reserves. Julie Robinson, Program Director, says the government has done an exceptional job in keeping with its international obligations.

According to GOB, Belize’s marine resources, tourism, fisheries, and shoreline protection are valued annually at one billion dollars.