By BBN Staff: The Government of Belize is to obtain a grant of over $10 million from the Caribbean Development Bank (CDB) to finance the 10th Basic Needs Trust Fund (BNTF) which will be managed by the Social Investment Fund (SIF).
The agreement was signed on July 16th, 2021 by Prime Minister John Briceño, Narda Garcia, chair of the SIF Board; and Mr. Valentino Shal, director of the board.
According to a release from the Government of Belize, “the BNTF Programme is the principal programme of the CDB aimed at reducing the incidence of poverty in low-income vulnerable communities. Under the programme, sub-projects are implemented to improve access to quality education and training, water and sanitation, basic community access and drainage, livelihoods enhancement and human resource development services.” The release notes that “these projects contribute significantly to addressing the basic needs of Belizeans, creating opportunities to integrate citizens into the national development grid of Belize”.
As with past BNTF programmes, the sub-projects will be implemented by SIF, the implementing agency for the Government of Belize tasked with addressing the basic needs of all Belizeans.
The CDB is providing a grant of just over $10 million (ie. US$5.031 million) for the project and the Government of Belize will provide $1.425 million (ie. US$712,460) in counterpart funding.
The release notes that since the inception of the BNTF programme, over three thousand sub-projects have been supported and implemented and over three million persons in vulnerable communities have benefited from the sub-projects.