Belize and IDB Join Forces for “CLIMA” Program: A Focus on Climate Resilience, Health, and Urban Infrastructure in 2024
Belize and the Inter-American Development Bank (IDB) have agreed to work together to focus on climate resilience, health, and urban infrastructure in 2024. At COP28, Vice-President for Countries of the IDB, Anabel González, and Belize’s Minister of State for Finance, Economic Development, and Investment of Belize, Christopher Coye, reviewed and agreed on the next steps for a joint work agenda. The program has been dubbed, “CLIMA”, and will contribute to covering sustainable and inclusive urban infrastructure and improve efficiency, quality, and access in Belize’s health system. CEO of the Ministry of Economic Development Dr. Osmond Martinez says that the project is being finalized and will greatly aid in the country’s effort to improve its climate resiliency.
Dr.Osmond Martinez, Chief Executive Officer, Ministry of Economic Development: “With IDB, IDB is developing a program with the name of Clima like Climate no ? So they do have a portion as a grant. It’s a 5% grant based on capital and everything and based on the capital of the loan and it’s in the experimental phase of the process of developing that loan. So the loan does not exist, the grant does not exist, the project does not exist as yet but it’s in the developing stage at IDB and so Belize is one of a few countries who have signed up to it to enjoy the benefits of technical assistance and grants especially because of Belize’s risk to climate change. But in addition to that Belize is, most institutions if not all they want Belize to be part of it because of the Blue Bond transaction of which Belize has a very good history in terms of managing and capitalizing on the natural resources that we have.”
According to the government, the meeting reinforced the IDB’s commitment to support climate resilience and disaster risk management in Belize as a crucial factor for strong and sustainable growth and development.