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Government of Belize launching $50 million COVID-19 relief program geared towards supporting small businesses

Posted: Friday, May 28, 2021. 1:11 pm CST.

By Benjamin Flowers: Prime Minister John Briceño announced today that, as a part of the Government of Belize’s economic recovery strategy, arrangements are being made with the Central Bank of Belize for a COVID-19 relief program valued at $50 million geared towards assisting businesses.

Briceño said that the COVID-19 Liquidity Program will provide chap financing to micro small medium and large businesses with a specific focus on job creation and export earnings.

“We are about to launch that, we expect to launch that next month, in the month of June once everything has been worked out and we will make everybody aware as to who and how they can go about borrow this money,” Briceño said.

According to the “Impact of COVID-19 on Business Establishments Survey” done by the Statistical Institute of Belize in November 2020, the total number of persons employed by formally registered businesses fell by 35.8 percent between March-November 2020. The survey also showed that 11 percent of businesses had to close temporarily, with another 2 percent closing their doors permanently due to the economic impact of the pandemic.

 

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