US$25M for Climate Resilient and Sustainable Agriculture

Senator Eamon Courtenay

Last Friday’s house meeting saw the introduction of a loan motion for Belize to borrow twenty-five million U.S. dollars from the International Bank for Reconstruction and Development. This is to aid fund a climate resilient and sustainable agriculture project. The initiative will provide for support to agriculture producers, with an emphasis on individual smallholder farmers who are transitioning to commercial production. This morning during the sitting of the Senate, Leader of Government Business, Senator Eamon Courtenay, presented the motion in the upper house.

Senator Eamon Courtenay, Leader of Government Business

“I move whereas Belize being a member of the International Bank for Reconstruction and Development, is eligible for development assistance in the form of loans, grants and technical assistance from the bank on such terms and conditions as may be agreed between Belize and the bank from time to time and whereas the Government of Belize has approached the bank for financial assistance to implement a climate resilient and sustainable agriculture project to be undertaken by the Ministry of Agriculture with the assistance of the Belize Social Investment Fund and whereas this project will provide funding for support to agricultural producers with an emphasis on individual smallholder farmers who are transitioning to more commercial production while also supporting more established commercial farmers and farmers association that wish to adopt climate smart practices to improve the sustainability of the enterprises; one, to improve the sustainability of the enterprises, thus the project will entail, one capacity building for key public institutions so that these are equipped to support a transition to more resilient productive and green agricultural development and two, financing using matching grants for the adoption of improved practices and know-how by agricultural producers, as well as for collective share technologies and assets.”