BELTRAIDE Launches Project to Empower Over 90 Belizean Entrepreneurs with Grants and Training

The Belize Trade and Investment Development Service (BELTRAIDE) will be supporting more than ninety entrepreneurs to take their businesses to the next level through a new project. Today, BELTRAIDE launched the Belize Enterprise Empowerment Project (BEEP), which is geared towards providing financial assistance and training for micro, small and medium enterprises (MSMEs). The funds is coming from a repurposed project with funding from the CARICOM Development Fund. CEO in the Office of the Prime Minister Narda Garcia, explained that in its original form, the project provided a loan, where businesses were required to repay up to forty percent of the amount loaned. Garcia says that he encouraged the Prime minister to write a letter to the CDF requesting that the remaining funds be used as a grant, rather than a loan.

Rodinald Soomer, CEO of the CARICOM Development Fund, says that the CDF has been working with BELTRAIDE for years and that the new project builds upon the work that has already been done, which included the development of a development policy for MSMEs. Dr. Leroy Almendarez, Executive Director, BELTRAIDE, says that following today’s launch there will be a call for applications with emphasis on specific business profiles.

The launch was held at the Belize Biltmore Plaza.