CDB Unveils Vision for Regional Growth, Plans Major Projects in Belize

The Caribbean Development Bank (CDB) held its annual press conference in Barbados, where President Daniel Best outlined the bank’s future plans and how it will impact the region. The theme for this year’s 2-day conference is “Rebirth: Innovate, Transform and Thrive for a Resilient Future.” It focuses on the bank’s goals for regional economic growth and transformation.

Belize, a borrowing member country, has already received significant CDB funding over the past years for infrastructure, education, and energy projects.

In an interview with News Five, O’Reilly Lewis, CDB’s Director of Projects, described Belize for its strong project implementation. “Belize has been one of our stronger performing countries in terms of implementation,” he said.

In February, the CDB, along with the Development Finance Corporation (DFC) and the Government of Belize, launched a USD 20 million Ninth Consolidated Line of Credit. This funding supports key sectors such as MSMEs, agriculture, education, energy, and low-income housing. “That loan would impact several layers of lives in Belize in a positive way,” Lewis added.

Valerie Isaac, the bank’s Division Chief for Environmental Sustainability, added that the bank is also aiming to expand on disaster resilience in Belize. The first phase of this project was done a few years back in Toledo “that proved to be quite effective, and we’re currently building out a project to conduct another phase of this, and we want to expand it to other communities within Belize,” Isaac said.

Lewis announced that in early April, CDB will be visiting Belize to conduct a portfolio review. He said the team will be working with various government ministries to assess current projects. “We will be having discussions about where their priorities are and how they see us as partnering with them to help solve some of those developing challenges,” Lewis said.