Inter-American Development Bank confirms COVID-19 loan for Belize

By Aaron Humes: The Inter-American Development Bank (IDB) says it has approved a loan of US $6.2 million asked for by the Government of Belize, repurposed from the undisbursed balance of its current investment portfolio, for continued COVID-19-related relief.

Officially, the Bank stated in a press release: “the (US) $6.2 million loan will support the containment and control of the pandemic and mitigate its impact on service delivery in the country.” It runs for 24 months and an interest rate based on LIBOR.

More specifically, the money will be used to “support actions to speed-up timely case detection and monitoring; and interventions to contain the transmission, including communicating with the public, encouraging social distancing and case surveillance at points of entry. It will also provide medical and personal protective equipment, as well as ensuring the continuity of essential care for the entire population during the emergency.”

The Bank says it is satisfied that these interventions will benefit the population through prevention actions communicated to the general public and those specifically suspected of having, diagnosed with and needing care relating to, COVID-19, thus helping to reduce mortality and morbidity and mitigate the indirect impact on the health system.

These interventions will benefit the population in general through prevention actions that will be communicated to the public. It will also benefit persons suspected of having COVID-19 and those who were diagnosed and need specialized care. Ultimately, the project’s goal is to contribute to the reduction of mortality and morbidity from COVID-19 and to mitigate the indirect impacts of the pandemic on health.

The loan is part of a coming financial package to help get the country through the rest of the year, with further support funding from the Caribbean Development Bank, World Bank, and OPEC Fund for International Development (OFID).

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