Posted: Saturday, April 29, 2023. 10:21 am CST.
Contributed by the Ministry of Economic Development: The Government of Belize, with support from the Inter-American Development Bank (IDB), has established a Central Executing Unit (CEU) within the Ministry of Economic Development. This centralized unit will provide an operational, cost-efficient, and effective way to facilitate the management of the implementation of projects helping to ensure that all project phases are completed within desired timeframes and budgets.
The CEU will provide oversight of the financial and operational aspects of the projects, while ensuring that all relevant regulations and standards are followed. This unit, through an efficient reporting mechanism, will assist Project Stakeholders to stay informed on the progress of the implementation of their projects.
Initially, the Central Executing Unit will coordinate the implementation of the following five, IDB funded loan projects, which together represent BZ $96 Million:
Strengthening Public Expenditure Management in Belize
Digital Innovation to Boost Economic Development in Belize
Promoting Sustainable Growth in the Blue Economy
Trade and Investment Facilitation Program for Belize
Sustainable and Inclusive Belize
In supporting the above mentioned projects, the CEU is ensuring that its main goal of effective and efficient implementation of such, are aligned with the Government of Belize’s #planBelize Medium Term Development Strategy and that of saving tax payer’s dollars, through the efficient use of public resources.
This unit is headed by a Belizean Lead Consultant, funded by the IDB. Initially, it will be staffed by a number of positions financed from the projects themselves. These include: Project Managers (Project Leads) for each project, two Financial Specialists, two Procurement Specialists, one Procurement Assistant, one Environmental and Social Specialist and one Monitoring and Evaluation Specialist. Having this expertise in-house will minimize project start up and learning curve delays, particularly regarding bank procedures and reporting requirements.
The Briceno Administration is committed to improving the quality of life of the Belizean people and continuously seeks to improve the efficient use of the country’s limited resources, including seeking innovative ways to improve the implementation of projects, delivering on #planBelize!
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