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Development Finance Corporation (DFC) pursues accreditation to Green Climate Fund

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Posted: Wednesday, December 16, 2020. 11:20 am CST.

By Aaron Humes: Belize’s long-standing chief development bank, the Development Finance Corporation (DFC), has received a grant of nearly 1 million Belize dollars to correct gaps in its operations as it prepares to become a Direct Access Entity of the Green Climate Fund (GCF).

The DFC will be able to mobilize grants and concessionary loans of between US$10 and $50 million for investments in climate change adaptation and mitigation projects both new and existing, ranging from agriculture to construction, energy, transportation, tourism and food and water security.

The DFC is a statutory body answerable to the Government and specifically the Ministry of Finance, Economic Development and Investment which acts as Belize’s designated national authority to interact with the GCF. The project is also being coordinated with the Caribbean Development Bank (CDB).

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