Belize Set to Sign Five-Year Compact Agreement with Millennium Challenge Corporation

Belize Set to Sign Five-Year Compact Agreement with Millennium Challenge Corporation

The Government of Belize and the Millennium Challenge Corporation (MCC) are expected to sign a five-year compact agreement in 2024 aimed at reducing poverty by increasing economic growth. Belize is one of two countries that were deemed qualified to access financing through the (MCC). In March last year, GOB and the US-based organization signed an agreement that provided GOB with one point five million Belize dollars to conduct a feasibility study on ways to improve Belize’s education and energy sector. Minister of State in the Ministry of Finance Christopher Coye says the study is in its final stages and is expected to wrap up in the coming months. 

Christopher Coye, Minister of State, Ministry of Finance: “I expect that by mid-next year, if I’m not mistaken, we should be signing the Compact. Remember that we are focusing on two areas specifically. One is the education sector, reform of the education sector, and the bulk of the grant support that we will get through the MCC will be towards the education sector. We can’t underscore enough the importance of education to this administration and to the future of this country and that is why we have emphasized with the MCC that we want the education sector to be given the highest priority in support. The second item is addressing the cost of electricity and that is also ongoing, the work that is being done by the MCC, as I mentioned, their feasibility analysis, what might make the best sense for us to bring down the cost of electricity, that’s ongoing right now.”

Related post

Lawsuit Looms: Receiver for Stake Bank Enterprise Accused of Mismanagement

Lawsuit Looms: Receiver for Stake Bank Enterprise Accused of…

Marlowe Neal, the receiver appointed by Atlantic Bank Limited for Stake Bank Enterprise has been put on notice for a possible…
Power Rationing Leaves Belizeans in the Dark: BEL Grapples with Electricity Shortage

Power Rationing Leaves Belizeans in the Dark: BEL Grapples…

Residents in Belmopan, San Pedro and several areas in the south experienced power outage after the Belize Electricity Limited was forced…
Thousands Unregistered with Social Security Board: Disparity Revealed in Labor Force Data

Thousands Unregistered with Social Security Board: Disparity Revealed in…

There are almost eighty thousand Belizeans in the labor force not registered under the Social Security Board’s scheme. With the recent…

Leave a Reply

Your email address will not be published. Required fields are marked *