IDB Will Improve Urban Development in Vulnerable Neighborhoods in Northern Belize

The Inter-American Development Bank (IDB) has approved a $10 million loan to support sustainable urban development in Belize’s northern municipalities. The initiative includes improved access to urban services, better drainage infrastructure and bicycle lanes.

The IDB’s Board of Executive Directors also approved a USD 2.5 million non-reimbursable facility for the same purpose.

This program aims to improve access to selected urban services,  foster local economic growth, and facilitate social and economic integration of vulnerable populations, such as women and migrants.

Vulnerable neighbourhoods and prioritized urban areas will see improved access to essential urban services such as drainage, sewage,  sidewalks, pavement, and bike lanes using the new or enhanced sidewalks with universal design. Integral investments include upgrading public markets, accommodations for local vendors, tourist centres,  kindergartens, primary health care and cultural centres.

These projects will improve the tourism product and potential in Orange Walk (OW) and  Corozal while fostering the social and economic integration of vulnerable populations.

This initiative will benefit an estimated 40,000 Orange Walk,  Corozal, and San Pedro residents. The direct beneficiaries will be residents of vulnerable neighbourhoods, users of public spaces, local vendors, consumers, small business owners, and workers in the tourism and commerce sectors.

The program also finances institutional strengthening actions, both local and national, which will also strengthen local capacities to guide the sustainable urban development of cities in a planned and controlled manner. This initiative underscores the IDB’s commitment to fostering inclusive, resilient and sustainable urban development in Belize.

The IDB loan is for a 25-year term and has a grace period of five and a half years.

(Press release)