DFC Expo highlight Impact on Belize’s Economy

Posted: Tuesday, October 4, 2016. 9:41 a.m. CST.


By BBN Staff:The Development Finance Corporation (DFC) hosted its first Productive Sector EXPO at the ITVET courtyard in Belize City this past weekend. It was held on Saturday October 1st. The expo featured a cross spectrum of DFC clients; from small-micro sector enterprises to larger productive sector business.

Entrance was free and the attractions included a $500 cash prize and resort stays as gate prizes. Double Up and phone specials from Digicell and SMART were available along with entertainment for children, a jingle competition, food, drinks and more.

Present at the expo were key developmental partners such as BELTRAIDE, the Central Building Authority, the Belize Chamber of Commerce and Industry (BCCI) and the Caribbean Community Climate Change Centre (5Cs).

DFC is Belize’s only development bank.

Franklyn Magloire, Assistant General Manager of Lending Operations stated that since 2009, DFC has done disbursements of over $160 million dollars to the Belizean economy.

The productive sector received a disbursement of $116 Million and $20.69 Million was disbursed to the residential sector; $21.1 Million was disbursed to the educational sector, reflecting the DFC’s commitment not only to economic growth and development but also to social development as well.

In his keynote address, guest speaker Daniel Guiterrez of the Economic Development Council (EDC) commended the DFC for its work and success in contributing to the nation’s development. “This re-invented DFC went from being a crippled burden on the public purse, to a beacon of improved governance and an important support to our nation’s development agenda. This resurgent DFC embraces the future as it prepares its clients for the cloudy days of climate change, whilst it cradles its customers in the aftermath of storms. This remarkable story of your tenacity and success, not to mention the belief in you by the Prime Minister of this country, underscores the rebirth that comes with good reform,” he said.

DFC is continuously evolving and now offers financing for businesses to reduce their long term operational costs by investing in Renewable Energy and Energy Efficient (RE/EE) Technologies.

Renewable energy and energy efficient formed the theme for DFC’s 2016 EXPO with this new financing supporting DFC’s efforts to encourage businesses to integrate Environmental Resilient mechanisms into their business operations. Private RE/EE Businesses which participated in the EXPO were Pro Solar Ltd. (Belmopan), Go Green Consultancy and Green Sun Ltd., installers of Chromagen Solar Water heating systems (Residential & Commercial systems).

The Corporation continues on its mission to invest in the long-term, sustainable development of Belizeans and the economy.

DFC thanked its clients, partners, Digicell and Smart and all persons who attended this year’s EXPO, helping to make it a success.


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