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CABEI Approves Feasibility Studies for Medical Projects

The Central American Bank for Economic Integration (CABEI) approved a one point four-nine million US dollar technical cooperation grant to finance initial reviews and feasibility studies of hospital infrastructure and equipment projects in Belize. The funds stem from both CABEI’s resources and the Republic of Korea within the framework of the Korea-CABEI Single Donor Trust Fund (KTF). Chief executive officer in the Ministry of Economic Development and Investment Dr. Osmond Martinez says the overall objective of the mission is to support the Government in improving the quality of national healthcare services. Dr. Martinez says this involves conducting studies for the construction, adaptation and/or refurbishment of facilities, deployment of national digital health information systems, and strengthening of hospital management and administration capacities.

Dr.Osmond Martinez, CEO, Ministry of Economic Development: “We have the group of consultants from CABEI doing a feasibility study for five hospitals; that is the Punta Gorda hospital, Dangriga Hospital, San Ignacio, Belmopan, and Orange Walk. The cost for that technical support is around 1.1 million U.S. dollars and it is a non refundable funds that we have received from CABEI through the South Korean fund that CABEI is managed and so it is important to note that there is another strong relationship that we have with another IFI because not anyone will give you 1.1 million U.S. dollars that’s 2.2 million billion dollars.” 

Reporter: And what do you think would be the most important take away from that feasibility study? What are we trying to figure out here in terms of those five health facilities? 

Dr.Osmond Martinez, CEO, Ministry of Economic Development: “Well the main outcome that we are looking at it is to look at new facilities,  to strengthen the infrastructure within the health system but also to see how we can improve the service. It is a note that there is a lot of work to do within the health system.” 

According to CEO Dr Martinez, these efforts will pave the way for Belize to become a leading medical tourism destination in Latin America through benchmarking South Korean medical knowledge, technologies, and policy approach. These initial reviews will facilitate the preparation of the project profiles and documents that allow feasibility studies to be carried out for the construction and equipment of hospitals in Belmopan, Orange Walk Town, San Ignacio, Dangriga and Punta Gorda towns.