Posted: Thursday, January 12, 2023. 5:22 pm CST.
By Benjamin Flowers: Cabinet has approved $46 million worth of loans aimed at supporting businesses as well as improving trade and investment processes.
The regular Cabinet briefing, issued today by the Government of Belize Press Office, highlighted that Cabinet approved a US$15 million loan in support of the competitiveness of micro, small, and medium-sized enterprises (MSMEs). This loan will have a special focus on businesses within the Agriculture and Tourism sectors.
The second loan, for US$8 million, is for Trade and Investment Facilitation to promote investment and trade through simplification, standardization, and automation of key procedures. The simplification process will also see the establishment of a single investment window and a single trade window.
“Both loans are being facilitated through the Inter-American Development Bank on favourable terms,” Cabinet said.
MSME support was a key feature of the People’s United Party’s Plan Belize campaign manifesto, which saw the party pledging the creation of 5,000 new jobs through supporting MSMEs. The party also pledged to restore at least 20,000 jobs within the tourism sector and create 30,000 jobs in agriculture.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-601-0315.
© 2023, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.