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IDB and Belize sign $4.65 million in financing

Belize Prime Minister Said Musa and Inter-American Development Bank President Enrique V. Iglesias today signed the documents for $4.65 million in financing to support the improvement of agricultural health services and a port modernization project.

A $3.6 million loan from the IDB will help Belize improve the quality of animal and plant health services, enhancing the competitiveness of the country’s agricultural products, especially in foreign markets. Services provided by the Ministry of Agriculture, Fisheries and Cooperatives will be consolidated into one independent organization, the Belize Agricultural Health Authority, with significant private sector participation in management and oversight.

A $1,050,000 grant from the IDB’s Multilateral Investment Fund will support Belize’s port modernization program, which will encourage private sector investment in port services. The project seeks to liberalize port operations in order to cut costs, boost trade and expand cruise ships access to Belize ports.

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