Belize Signs $7 Million Loan Agreement for Sustainable Fisheries

Belize Signs $7 Million Loan Agreement for Sustainable Fisheries

During the recent Belize Investment Summit, the Government of Belize signed a loan agreement for seven million dollars that will focus on strategic management of Belize’s commercial fish species, like conch, lobster, and finfish. It will also help prompt the country’s artisanal fishers to adopt sustainable and climate-resilient technologies.  CEO Dr. Osmond Martinez explained that the loan is under the blue economy category.

The fishing industry has played a major role in Belize’s development, providing the country with jobs, food security, and revenue and foreign currency reserves. On average, fisheries and aquaculture accounted for 12% of total exports from 2015 to 2021. The fishing industry directly employs over 3,000 fishers and indirectly provides livelihoods for more than 15,000 people, or around 10% of the country’s labor force.  The IDB loan has a 25-year repayment period and a 5.5-year grace period.

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