Multi-Sector Collaboration Launches Flexible Loans for Education, Agriculture, and Business

Belizeans seeking to access loans for education, agriculture, or business, are expected to soon see an easier and more flexible process.  Today, a multi-sectoral collaboration involving the government, the Development Finance Corporation, and the Caribbean Development Bank was launched in Belize City.  The initiative is the development of lines of credit, customized for students, and those in agriculture.  The idea is to provide Belizeans with greater access to financing for ventures in the three important sectors at low rates through the DFC.  The corporation’s Chief Executive Officer, Henry N. Anderson spoke on the significance of the project.

Henry Anderson, CEO, DFC: “DFC’s remit is to contribute to the development of Belize and of Belizeans. So this allows us to have Belizeans to access tertiary level education in Belize and outside Belize and we prioritize areas like STEM education.”

Added that over a hundred people will benefit from the student loans. Chairman of the board of directors, DFC Raineldo Guerrero spoke about the qualifications.

Raineldo Guerrero, Chairman of the Board of Directors, DFC: “It’s an opportunity that is open to any individual who passes their primary level of education and their secondary level of education moving into the tertiary level and obviously to get into those institutions you need to have some pre qualifications to get in there and so the first thing has to do with that. The second thing has to do with some level or capacity to pay right ? And the continuing provision of those funds has to do with how you keep on qualifying. So if your grades are high, your grades are good and you meet some stumbling blocks DFC is always there to respond to what those are so it’s not necessarily a cut and dry like let’s say what the bank would do but it’s as a development bank every single individual that we can assist and every single individual that we can help to move forward in their journey which leads to further development within the broader society of Belize then that’s what they’re there for.”

Belize’s only development Bank emphasized on their aim to improve the ability for students in tertiary level education and making the Caribbean a more competitive place to do business.