EU and IDB Invest $2 Million to Advance Digital Innovation in Belize

The European Union (EU) has partnered with the Inter-American Development Bank (IDB) to expand Belize’s digital transformation efforts, providing $2 million in grant funding to scale up the Digital Innovation to Boost Economic Development in Belize program. This initiative is a key part of the Belizean government’s broader strategy to drive economic growth through digital innovation.

The grant will complement an existing $10 million IDB loan program, which aims to modernize businesses by advancing digital technologies and increasing efficiency across various sectors. The project, currently being implemented by the Ministry of Finance, Economic Development, Investment, Civil Aviation, and Immigration, focuses on helping Micro, Small, and Medium-sized Enterprises (MSMEs) transition into the digital economy. More than 250 firms are expected to benefit, and at least 20 individuals—half of whom are women—will receive digital skills training through specialized boot camps.

The EU funding will support efforts to increase private sector engagement in digital transformation, enhance local technological capacities, and encourage businesses to adopt digital solutions, online payments, and innovative communication tools. By fostering a stronger digital ecosystem, the initiative aims to boost MSME growth and improve Belize’s overall economic resilience.

The agreement between the EU and IDB highlights a shared commitment to empowering Belize’s private sector and ensuring greater participation from women entrepreneurs. It also aligns with the Global Gateway Investment Agenda for Latin America and the Caribbean, reinforcing long-term efforts to create a sustainable and competitive digital economy in Belize.