IDB meets with private sector

Since the Inter-American Development Bank established an office in Belize, it has funded a number of government projects. The IDB has also indirectly assisted the private sector through the Belize Institute of Management under the Trade and Investment Promotion Programme. Today, the IDB is looking to expand its lending services to private companies and met with 72 representatives from the private sector at the Radisson Fort George this morning. Jose Teixeira, the IDB representative in Belize, says they are very much interested in working with the private sector and for the bank to get more involved in the development of Belize.

Jose Teixeira, IDB Representative

“Well we have been working with the private sector for many years, but what you see today is that there was a change of most of the projects, for instance that where. . .call it public infrastructure like roads, energy, these were typically in Latin America and Central America government projects. But we are having a change now with the privatization process, the globalization that is occurring all over in Central America and Latin America. The private sector is getting more and more involved in this type of projects, so the bank creates what we call a private sector department that do not finance projects for the public sector, only finance this type of projects for the private sector.”

Jacqueline Woods

“What kind of projects are you all interested in?”

Jose Teixeira

“Well here in Belize, we see as a potential project for the private sector…suppose the airport, if the government decides to privatize the airport. When you privatize the airport you are looking to increase the importance of the airport in the economy of the country and that means bringing additional things. You have to expand the airport, you do not just privatize to keep it the way it is and here is where we come. The private sector department is ready to finance the investors in the plan of expanding the airport in creating new services that the airport will provide so that it will help the development of the country.”

Teixeira says any proposals received from the private sector will be sent to IDB’s private sector department in Washington for consideration.