fbpx
Dangriga woman wins $182,000 Fantasy 5 jackpot
November 5, 2021
Drug plane bust reveals Belizean-owned weapons and vehicle linked to police officer
November 5, 2021

U.S. International Development Finance Corporation helps underwrite Blue Bond

  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Posted: Friday, November 5, 2021. 12:35 pm CST.

By Aaron Humes: The United States International Development Finance Corporation (DFC) is one of the major partners in underwriting Belize’s new Blue Bond arrangement.

Its contribution was the provision of $610 million in political risk insurance (covering loan principal and interest), which will provide sovereign debt relief and simultaneously fund projects in support of Belize’s commitment to protecting 30 percent of its ocean.

The United States DFC’s insurance enables Belize to repurchase $553 million sovereign debt at a discount. Through a combination of debt cancellation and debt repayment by the Government of Belize over time, the project will generate approximately $180 million for marine protection and management, coral reef and mangrove restoration, economic diversification, sustainable tourism, and fisheries, and will promote the growth of the country’s blue economy.

DFC and The Nature Conservancy announced the financial close of the project on the margins of COP26 in Glasgow, Scotland, United Kingdom.

“DFC’s collaboration with TNC, the Government of Belize, and Credit Suisse represent one of the most innovative examples of climate finance and a model for the future,” said David Marchick, DFC’s Chief Operating Officer. “This transaction is a win-win-win: it reduces Belize’s indebtedness, generates an estimated $180 million to invest in marine and biodiversity protection, and promotes climate resilience in Belize’s blue economy.”

Said Jennifer Morris, Chief Executive Officer at The Nature Conservancy, “The Belize Blue Bond is a world-leading example of how a country can reduce its debt and create more fiscal space to dedicate substantial funds to its conservation ambitions. Belize is showing that when we work together, combining science, global finance and partnerships from the national to the community level, we can achieve enormous wins for people and nature.”

Prime Minister of Belize John Briceño said, “I thank our partners, in particular The Nature Conservancy and the U.S. International Development Finance Corporation, and share in their hope that this transaction will serve as a model to tackle the global emergencies of climate change and sovereign indebtedness.”

Comments

 

Аdvеrtіѕе wіth thе most visited news site in Веlіzе ~ Wе оffеr fullу сuѕtоmіzаblе аnd flехіblе dіgіtаl mаrkеtіng расkаgеѕ. Yоur соntеnt іѕ dеlіvеrеd іnѕtаntlу tо thоuѕаndѕ оf uѕеrѕ іn Веlіzе аnd аbrоаd! Соntасt uѕ аt marketing@breakingbelizenews.com оr саll uѕ аt 501-601-0315.

 

© 2021, BreakingBelizeNews.com. This article is the copyrighted property of Breaking Belize News. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.

  • Galen University
  • larry waight
  • Galen University