UK Government Supports Economic Resilience in Belize with $32 Million Grant

Strategic Insights -

The UK Foreign, Commonwealth and Development Office (FCDO) has provided a grant of $32 million to the UK Caribbean Infrastructure Fund (UKCIF) Coastal Road Upgrading Project in Belize, aiming to build economic resilience and create sustainable livelihood opportunities in the country. The project is a joint effort between the UK FCDO, Caribbean Development Bank (CDB), Ministry of Infrastructure Development and Housing (MIDH), Belize Social Investment Fund (BSIF), and the Belize Trade & Investment Development Service (BELTRAIDE). The project's Livelihoods Strategy and Action Plan (LSAP) has achieved notable milestones, including the formalization and registration of 80 Micro, Small & Medium Enterprises (MSMEs), with an additional focus on entrepreneurial development training and community-based business development.

Key Takeaways:

  • The UK FCDO granted $32 million to the UKCIF Coastal Road Upgrading Project to support economic resilience and create sustainable livelihood opportunities in Belize.
  • The project's Livelihoods Strategy and Action Plan (LSAP) has achieved notable milestones, including the formalization and registration of 80 Micro, Small & Medium Enterprises (MSMEs).
  • 80 MSMEs were formalized and registered, including 43 female-owned and 37 male-owned businesses, exceeding the target of 40 MSMEs.
  • 72 participants received entrepreneurial development training, with 59 completing the certification program facilitated by BELTRAIDE's Small Business Development Centre (SBDCBelize).
  • An upcoming Buy Belizean exhibition in Dangriga Town on June 14, 2025, will feature 14 MSMEs and 6 formalization and support agencies.
  • A certificate ceremony was held on May 24, 2025, to recognize the accomplishments of 59 participants who completed the Entrepreneurial Development Training Program.

Statistics:

  • $32 million: grant provided by the UK FCDO to the UKCIF Coastal Road Upgrading Project.
  • 80: number of MSMEs formalized and registered, exceeding the target of 40 MSMEs.
  • 43: number of female-owned businesses among the 80 formalized and registered MSMEs.
  • 37: number of male-owned businesses among the 80 formalized and registered MSMEs.
  • 72: number of participants who received entrepreneurial development training.
  • 59: number of participants who completed the Entrepreneurial Development Training Program.
  • June 14, 2025: date of the upcoming Buy Belizean exhibition in Dangriga Town.

Sources:

  • "News: UK FCDO Support for Belize's Coastal Road Upgrading Project", UK FCDO (no date mentioned in the original text).
  • "UK Caribbean Infrastructure Fund (UKCIF) Coastal Road Upgrading Project", Caribbean Development Bank (no date mentioned in the original text).
  • "Ministry of Infrastructure Development and Housing (MIDH)", Government of Belize (no date mentioned in the original text).
  • "Belize Social Investment Fund (BSIF)", Government of Belize (no date mentioned in the original text).
  • "Belize Trade & Investment Development Service (BELTRAIDE)", Government of Belize (no date mentioned in the original text).