Belize Boosts Climate Resilience: New Partnership to Support SMEs in Renewable Energy Projects

The CARICOM Development Fund (CDF), the Caribbean Community Climate Change Centre (5C’s), and the Ministry of Economic Development have partnered to enhance Belize’s climate resilience. Yesterday, the entities signed a Memorandum of Agreement to support the Credit Risk Abatement Facility (CRAF) project. The project aims to provide financing at local institutions for small and medium-sized enterprises (SMEs) interested in adapting renewable energy projects. The initiative aims to strengthen the capacity and security of the SMEs to reduce Belize’s reliance on fossil fuels, cut gas emissions, and boost its overall climate resilience. CDF CEO, Rodinald Soomer, explained how the project will support various projects centered on tackling climate change. 

Executive Director of the 5C’s Dr. Colin Young explained that the effort is a major step in supporting Belize’s transition to a more sustainable and environmentally secure future. 

The CDF’s financing partners are the Development Finance Corporation (DFC) and the Belize Bank.