GOB seeks funding for $100 Million Wastewater Treatment Project

GOB seeks funding for $100 Million Wastewater Treatment Project

President of the Central American Bank for Economic Integration (CABEI), Ana Gisela Sanchez Maroto, is in Belize this week visiting several sites for either ongoing or proposed projects. One of her stops was in San Pedro where the Government of Belize and Belize Water Services Limited is proposing a massive wastewater treatment project. Dr. Osmond Martinez. Chief Executive Officer in the Ministry of Economic Development said that the project will be valued at over a hundred million dollars and GOB is looking to source most of it as grant funding. 

Dr.Osmond Martinez, CEO, Ministry of Economic Development: “We want to develop waste water system and wastewater treatment in San Pedro. Therefore we’re working along with the 5C’s in developing a proposal that’s a similar proposal of what was developed in Barbados and that proposal was bankable before the Green Climate Fund and so now we’re developing a similar proposal that will mirror Belize’s needs in comparison to Barbados’ one and the objective is to get $50 million US dollars from GCF so it’s a $100 million Belize dollars from the Green Climate Fund as a grant and so 5Cs is working with it but at the same time we might need a bank – well it’s not that we might we will need a bank to help us to complement with the difference of the project because the project the BWS project will come up to an amount of about $150-160 million Belize dollars. So but if we can get $100 million dollars as a grant to complement it with another multilateral and now we are given then the option to see which one of them will give us better offers in terms of interest rates, grants, concessional finance and at the same time technical support. So the main objective yesterday was to do a flyover in the part of it was north of San Pedro to look at the needs and at the same time at the opportunities for future development.”

While a hundred million dollars in grant funding seems like a tall order, Dr. Martinez says that it’s been done before, so all that needs to be done is to prove that the cases are similar enough to justify it happening again. 

Dr.Osmond Martinez, CEO, Ministry of Economic Development: “There is a precedence that is set and that is that GCF approved one for Barbados now there is a precedence so now they will have to, there is no excuse. Actually when you look at San Pedro it has similar conditions and climatic characteristics as Barbados so it lends it self to have a very good opportunity to make it a bankable project.”

Last year the Ministry, BWSL, and the CARICOM Climate Change Centre conducted a site visit along with the San Pedro Town Council, to discuss the project and further discussions regarding its potential.

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